Summary: California Statewide Communities Development Authority Catholic Healthcare West; Joint Criteria May 08
Standard & Poors, May 2008
Abstract
Standard & Poor's Ratings Services assigned its 'AAA/A-1+' rating to California Statewide Communities Development Authority's bonds, issued for Catholic Healthcare West (CHW) based jointly on the long-term rating of Catholic Healthcare West (A) and the rating of the LOC provider, Bank of America N.A. (AA+/A-1+). The short-term component of the rating on the bonds is based solely on the short-term component of the rating on Bank of America N.A. The 'A' long-term component of the rating reflects CHW's strength as one of the nation's largest not-for-profit hospital systems, with a record of continued operating improvement and strong cash flow during the past several years. Additionally, CHW has continued to build liquidity, even with significant reinvestment in its existing facilities and...
Companies mentioned in this report are:
- California Statewide Communities Dev Auth
- Dignity Hlth
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.
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.
- California Statewide Communities Dev Auth
- Dignity Hlth
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