NEW YORK (Standard & Poor's) Sept. 21, 2007--Standard & Poor's Ratings Services revised its rating outlook on California Statewide Communities Development Authority's debt, issued for Daughters of Charity Health System (DCHS), Calif., to stable from negative, reflecting improved financial performance at St. Vincent Medical Center in Los Angeles and DCHS's first operating surplus in the past three years. In addition, Standard & Poor's analysis also recognizes financial assistance from an independent, yet related, foundation which has proven its support for the organization during recently challenging times. At the same time, Standard & Poor's affirmed its 'BBB+' rating on the DCHS's series 2005A, B, F, G and H bonds. "The improvement at St. Vincent, solid operations at four of the other...
Companies mentioned in this report are:
- Daughters of Charity Hlth Sys
- California Statewide Communities Dev Auth
Action: Outlook: Stable
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