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Mission Community Hospital, CA's Hospital Rev Bonds Rated 'A+' Based on Cal-Mortgage Insurance Nov 01 Product Image

Mission Community Hospital, CA's Hospital Rev Bonds Rated 'A+' Based on Cal-Mortgage Insurance Nov 01

  • ID: 2043778
  • November 2001
  • Standard & Poors

Abstract
Standard & Poor's today assigned its single-'A'-plus rating to California Statewide Communities Development Authority's $34.45 million insured hospital revenue bonds, issued for Mission Community Hospital (MCH). The bonds are scheduled to sell Nov. 29, 2001. The outlook is negative. The rating is based on insurance from the State of California's Health Facilities Construction Loan Insurance Program (Cal-Mortgage). According to the Cal-Mortgage program, the bonds are guaranteed by the program's own Health Facilities Construction Loan Insurance Fund (HFCLIF), which is funded by up-front fees from new issuers, interest income on the fund, and the one-time insurance premium charged to borrowers. However, the ultimate backing for the program is the full faith and credit of the state of California. In the event...

Companies mentioned in this report are:
- California Statewide Communities Dev Auth

Action: New Rating

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- California Statewide Communities Dev Auth

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