Summary: Adventist Health System/West, California; System May 08
- ID: 2044306
- May 2008
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'A' rating and underlying rating (SPUR) on bonds issued by the California Statewide Communities Development Authority and California Health Facilities Financing Authority for Adventist Health System/West. More specifically, we affirmed the 'A' rating on $343 million series 2005A and 2003A bonds. In addition, we affirmed the 'A' SPUR on $57.5 million series 2007A bonds, which are auction-rate securities being converted to bank-backed variable-rate demand obligations and on $57.5 million series 2007B bonds, which are being converted to fixed-rate obligations. The series 2007 bonds remain insured by 'AAA' rated Assured Guaranty Ltd. The bonds are secured by revenue from the obligated group, although information in this analysis is based on the entire system. The...
Companies mentioned in this report are:
- Adventist Hlth Sys/West
- California Hlth Facs Fincg Auth
- California Statewide Communities Dev Auth
Action: Outlook: Stable
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