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California Statewide Communities Development Authority/Sutter Health Certs Rated A+ Sep 99
Standard & Poors, Sep 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) Sept. 27, 1999--Standard & Poor's today assigned its single-'A'-plus rating on California Statewide Communities Development Authority's $107 million certificates of participation series 1999, issued for Sutter Health. The bonds are scheduled to sell October 5, 1999. Standard & Poor's also affirmed the single-'A'-plus public or underlying rating on more than $650 million of existing debt for Sutter Health. The rating is based on Sutter's strong market position, relatively stable financial performance, and solid balance sheet. Significant competition, only lackluster profitability, and high leverage are offsetting credit factors. Proceeds will be used to refund Sutter's series 1996C, 1990A and 1990B, and 1989A bonds. Sutter is one of California's largest health systems, with 28 hospitals (4,407...
Companies mentioned in this report are: California Statewide Communities Dev Auth
Action: New Rating
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.
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