Kaiser Permanente, California California Statewide Comnties Development Authority; Health Care, System Oct 01
- ID: 2044090
- October 2001
- Region: California
- Standard & Poors
The 'A' long-term rating on California Statewide Communities Development Authority's variable-rate revenue bonds, issued for Kaiser Permanente, reflects: Kaiser's significantly improved financial performance and a return to operating profitability in fiscal 2000; Kaiser's significant market position, particularly in its primary market in California; Substantial financial flexibility, with some capacity for additional debt at this rating level; and Major restructuring efforts, which, to date, have been largely successful. Offsetting credit factors include ongoing market and regulatory pressures, pricing and insurance cycles (particularly in this volatile economic environment), and competition from other insurers and providers. The rating also factors in the upcoming issuance of approximately $200 million in lease revenue bonds for Kaiser Hospital Assistance Corp., an independent 510(c)(3) organization, which will...
Companies mentioned in this report are:
- California Statewide Communities Dev Auth
Action: New Rating
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