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Kaiser Permanente, California California Statewide Comnties Development Authority; Health Care, System Oct 01

  • ID: 2044090
  • October 2001
  • Region: California
  • Standard & Poors
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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

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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- California Statewide Communities Dev Auth

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