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Cottage Health System, California; Hospital; Joint Criteria Apr 10 Product Image

Cottage Health System, California; Hospital; Joint Criteria Apr 10

  • Published: April 2010
  • Region: California
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'A+' underlying rating (SPUR), 'A+/A-1', and 'AAA/A-1+' ratings on Cottage Health System (CHS), Calif.'s previously issued debt through California Statewide Communities Development Authority and California Health Facilities Finance Authority. The 'A+' SPUR on the $54.5 million series 2003B bonds is based on our assessment of CHS. The 'A+/A-1' rating on the $100 million series 2008A and 2008B variable-rate demand bonds (VRDBs) is based on our assessment of CHS and its ability to fund any unremarketed tenders. As of Feb. 28, 2010, CHS has identified $316.72 million in fixed income assets to guarantee the full and timely purchase price of $100 million variable-rate debt. The range of assets backing the debt is made up of...

Companies mentioned in this report are:
- Cottage Hlth Sys
- California Hlth Facs Fincg Auth
- California Statewide Communities Dev Auth

Action: Affirmed

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- Cottage Hlth Sys
- California Hlth Facs Fincg Auth
- California Statewide Communities Dev Auth

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