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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

  • Published: 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

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

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