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Orthopaedic Hospital and Los Angeles Orthopaedic Hospital Foundn, CA Bonds Raised To 'BBB+' Aug 07 Product Image

Orthopaedic Hospital and Los Angeles Orthopaedic Hospital Foundn, CA Bonds Raised To 'BBB+' Aug 07

  • ID: 2045296
  • August 2007
  • Standard & Poors

Abstract
DALLAS (Standard & Poor's) Aug. 30, 2007--Standard & Poor's Ratings Services raised its underlying rating (SPUR) on California Statewide Communities Development Authority's $51.8 million series 2000 certificates of participation (COPs), issued for the Orthopaedic Hospital (OH) and Los Angeles Orthopaedic Hospital Foundation, to 'BBB+' from 'BBB'. The upgrade reflects a stronger balance sheet and improved operating performance following the July 2005 transfer of inpatient services to Santa Monica UCLA Medical Center and Orthopaedic Hospital, and the fiscal 2006 sale of the downtown land and building, which formerly housed OH inpatient and related operations. The outlook is stable. "While the hospital continued to generate operating losses in fiscal 2006, support provided by the obligated Los Angeles Orthopaedic Hospital Foundation and significant...

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

Action: Outlook: Stable
Action: Upgraded

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- California Statewide Communities Dev Auth

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