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Childrens Hospital of Los Angeles, California California Statewide Communities Development Authority; Health Care, Hospital; Public Finance Structured, Insured Liquidity Jun 04 Product Image

Childrens Hospital of Los Angeles, California California Statewide Communities Development Authority; Health Care, Hospital; Public Finance Structured, Insured Liquidity Jun 04

  • ID: 2043679
  • June 2004
  • Region: California
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services lowered its rating to 'A' from 'A+' on Childrens Hospital of Los Angeles, Calif.'s (CHLA) existing $288 million in series 1999 and 2002 revenue bonds, issued by the California Statewide Communities Development Authority. The rating is based on: Coverage and profitability measures that, while improved in year-to-date fiscal 2004, are more consistent with 'A' level performance indicators; Risks related to CHLA's challenging payor mix (Medi-Cal and Disproportionate Share Hospital, or DSH, funds account for approximately 67% of net patient revenue), particularly in light of the California's continued budget problems; Increased reliance on fundraising and investment earnings to support operations; and Demands of a $308 million patient tower replacement project, which is likely to include an...

Companies mentioned in this report are:
- Children's Hosp Los Angeles
- California Statewide Communities Dev Auth

Action: Downgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

- Children's Hosp Los Angeles
- California Statewide Communities Dev Auth

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