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Adventist Health System/West, California; Health Care, System Sep 05
Standard & Poors, Sep 2005
Abstract
Standard & Poor's Ratings Services assigned its 'A' rating to California Statewide Communities Development Authority's $81.6 million series 2005A and $93.4 million series 2005B bonds, issued for Adventist Health System/West, and affirmed its 'A' rating on Adventist Health System/West's (doing business as Adventist Health, or AH) $168 million series 2003A bonds, issued by the California Health Facilities Financing Authority. The rating is based on the system's: Improved performance at mid-year 2005, after a drop in performance in fiscal 2004, although the system maintained adequate coverage of maximum annual debt service (MADS) for the rating level, even during this downturn; Continued growth in liquidity, although this new debt issuance will soften balance sheet measures to below medians for the rating level;...
Companies mentioned in this report are: Adventist Hlth Sys/West,California Hlth Facs Fin Auth,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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