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American Baptist Homes Of The West, CA Rating Outlook Revised To Positive Sep 08
Standard & Poors, Sep 2008
Abstract
DALLAS (Standard & Poor's) Sept. 2, 2008--Standard & Poor's Ratings Services revised its outlook to positive from stable and affirmed its 'BBB-' underlying ratings (SPUR) on California Statewide Communities Development Authority's series 2006 variable-rate demand bonds, and ABAG Finance Authority for Nonprofit Corporations series 1997A revenue refunding certificates of participation. Both series were issued for American Baptist Homes of the West (ABHOW). The positive outlook and affirmed ratings acknowledge ABHOW's stronger balance sheet and operating performance improvement over the past two years, as well as the positive financial benefit that should accrue to ABHOW upon completion of planned redevelopment efforts for five of its retirement communities. A higher rating is precluded at this time due to construction and fill-up risks...
Companies mentioned in this report are: American Baptist Homes of the West,California Statewide Communities Dev Auth,ABAG Fin Auth For Nonprofit Corps
Action: Affirmed
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.
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.
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