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Summary: Sierra Kings Health Care District, California; General Obligation Dec 12 Product Image

Summary: Sierra Kings Health Care District, California; General Obligation Dec 12

  • Published: December 2012
  • Region: California
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) to 'A' from 'C' on the Sierra Kings Health Care District, Calif.'s outstanding series 2002 general obligation (GO) bonds. The outlook is stable. The raised rating reflects the district's exit from bankruptcy and affiliation with Adventist Health (A/Stable), for which district voters approved the lease of the district's facilities and the sale of certain operating assets. We understand that under the lease, entered into in late 2011, Adventist has exclusive control, possession, occupancy, use, and management of the district's facilities and licensed operations during the term of the lease, which expires in 2026 (with a purchase option). The district's facilities include a 49-bed hospital in Reedley, a...

Companies mentioned in this report are:
- Sierra Kings Hlth Care Dist

Action: Upgraded

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- Sierra Kings Hlth Care Dist

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