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Association of Bay Area Governments Finance Authority, California California Statewide Communities Development Authority Eskaton Subsidiaries; Long Term Care Feb 10
Standard & Poors, Feb 2010
Abstract
Standard & Poor's Ratings Services assigned its 'BBB' long-term rating to the Association of Bay Area Governments Finance Authority, Calif.'s $35.865 million series 2010 fixed-rate bonds issued on behalf of Eskaton Subsidiaries (Eskaton). At the same time, Standard & Poor's affirmed its 'BBB' underlying rating (SPUR) on the California Statewide Communities Development Authority's series 1999 bonds, also issued on behalf of Eskaton. For the purposes of our analysis, we used the consolidated financial results of Eskaton and its subsidiaries. We understand that proceeds of Eskaton's series 2010 bonds will be largely used to refund most of Eskaton's outstanding series 1999 bonds, but that they will also finance a limited amount of capital improvements and equipment as well as fund a...
Companies mentioned in this report are: Eskaton and Subsidiaries,California Statewide Communities Dev Auth,Association of Bay Area Govts
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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