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Summary: California Statewide Communities Development Authority John Muir Health; Hospital; Lease Sep 09 Product Image

Summary: California Statewide Communities Development Authority John Muir Health; Hospital; Lease Sep 09

  • Published: September 2009
  • Region: California
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services raised its dual ratings on California Statewide Communities Development Authority's series 2008A and 2008B variable-rate revenue bonds issued on behalf of John Muir Health (JMH) to 'AAA/A-1' from 'A+/A-1'. Standard & Poor's also raised the authority's series 2008C variable-rate revenue bonds issued on behalf of JMH to 'AAA/A-1+' from 'AA/A-1+'. The upgrades reflect Standard & Poor's recent update to our methodology and assumptions for rating jointly supported obligations (see, "General Criteria: Joint-Support Criteria Update," published April 22, 2009, on RatingsDirect). Standard & Poor's reviewed the bond documents for all three series. Each of the letter of credit (LOC) providers for the series 2008A and series 2008B (UBS AG, Stamford Branch; 'A+/A-1'), and the series 2008C...

Companies mentioned in this report are:
- John Muir Health
- California Statewide Communities Dev Auth

Action: Affirmed
Action: Outlook: Stable
Action: Removed From CreditWatch
Action: Upgraded

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- John Muir Health
- California Statewide Communities Dev Auth

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