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California Statewide Communities Development Authority Orthopaedic Hospital and Los Angeles Orthopaedic Hospital Foundation; Hospital Aug 07
Standard & Poors, Aug 2007
Abstract
Standard & Poor's Ratings Services raised its underlying rating (SPUR) on California Statewide Communities Development Authority's $51.8 million series 2000 certificates of participation (COPs), issued for the Orthopaedic Hospital (OH) and Los Angeles Orthopaedic Hospital Foundation, to 'BBB+' from 'BBB'. The upgrade reflects a stronger balance sheet and improved operating performance following the July 2005 transfer of inpatient services to Santa Monica UCLA Medical Center and Orthopaedic Hospital, and the fiscal 2006 sale of the downtown land and building, which formerly housed OH inpatient and related operations. Orthopaedic Hospital operates outpatient, and urgent care facilities near downtown Los Angeles for the treatment of children with musculoskeletal disorders and orthopaedic injuries. OH also operates research facilities on its downtown campus. Los...
Companies mentioned in this report are: Orthopaedic Hosp & Los Angeles Orthopaedic Foundn,California Statewide Communities Dev Auth
Action: Upgraded
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: Full Analysis
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