Standard & Poor's Ratings Services assigned its 'A' long-term rating to California Health Facilities Financing Authority's (CHFFA) $298.7 million series 2008G, 2008H, 2008I, 2008J, 2008K, 2008L and California Statewide Communities Development Authority's (CSCDA) $146.250 million series 2008C, 2008D, 2008E uninsured fixed-rate bonds, issued for Catholic Healthcare West (CHW). Standard & Poor's also affirmed the 'A' rating on debt previously issued for CHW. The outlook is positive. The series 2008 bonds are being issued as exchange bonds and will replace approximately $444.95 million of CHW's outstanding insured auction-rate bonds. The issues specifically affected are CHFFA's series 2004B, 2005A, 2005B, 2005C, 2005E, and 2005F, CSCDA's series 2007A, 2007G, 2007H. CHW is also in the process of exchanging about $745.9 million outstanding auction-rate...
Companies mentioned in this report are:
- Dignity Hlth
- California Hlth Facs Fincg Auth
- California Statewide Communities Dev Auth
Action: New Rating
Action: Outlook: Positive
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >