American Baptist Homes Of The West, CA Rating Outlook Revised To Positive Sep 08
- ID: 2043980
- September 2008
- Region: United States
- Standard & Poors
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: Outlook: Positive
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Research type: News
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