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California Statewide Communities Development Authority Eskaton Subsidiaries; Long Term Care Dec 09 Product Image

California Statewide Communities Development Authority Eskaton Subsidiaries; Long Term Care Dec 09

  • ID: 2044403
  • December 2009
  • Region: California
  • Standard & Poors

FEATURED COMPANIES

  • Eskaton and Subsidiaries
  • MORE

Abstract
Standard & Poor's Ratings Services affirmed its 'BBB' underlying rating (SPUR) on the California Statewide Communities Development Authority's $34.85 million series 1999 bonds, issued on behalf of Eskaton Subsidiaries (Eskaton). For the purposes of our analysis, we used the consolidated financial results of Eskaton and its subsidiaries. Eskaton, a large provider of services to older adults throughout Northern California, benefits from its considerable revenue and geographic diversity. The 'BBB' rating reflects our view of Eskaton's history of sound operating performance and our opinion that Eskaton's liquidity growth and good cash flow have historically offset its significant debt load. Operating performance has improved in fiscal 2009 to date after a much softer fiscal 2008, which was attributed to increased interest expense...

Companies mentioned in this report are:
- Eskaton and Subsidiaries
- California Statewide Communities Dev Auth

Action: Affirmed

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

Note: Product cover images may vary from those shown

- Eskaton and Subsidiaries
- California Statewide Communities Dev Auth

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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