Standard & Poor's Ratings Services assigned its 'AA-/A-1+' rating to St. Joseph Health System, Calif.'s $243.925 million series 2008 A-C hospital revenue bonds, issued by the California Statewide Communities Development Authority, and $51.5 million series 2008A hospital revenue bonds, issued by the Lubbock Health Facility Development Corporation, Texas. The short-term rating is based on St. Joseph's liquidity. At the same time, Standard & Poor's affirmed its 'AA-' rating and underlying rating (SPUR) on St. Joseph Health System, Calif.'s outstanding debt. Bond proceeds will refund the system's series 2000 (Texas) and 2004A, B, and C bonds. Finally, while future financing plans regarding its series 1998 bonds are still preliminary, a refunding of its fixed-rate bonds to variable-rate demand bonds is likely....
Companies mentioned in this report are:
- St. Joseph Hlth Sys
- Lubbock Hlth Fac Dev Corp
- California Statewide Communities Dev Auth
Action: New Rating
Action: Outlook: Stable
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