SAN FRANCISCO (Standard&Poor's CreditWire) Sept. 25, 2000--Standard&Poor's today raised its rating to double-'A' from double-'A'-minus on nearly $1 billion in bond issues insured by the State of California's Health Facilities Construction Loan Insurance Program ("Cal-Mortgage"), based on the upgrade of California's GO rating to double-'A' (see list below). The Cal-Mortgage program, since its inception in 1968, has helped health care facilities in California gain access to the tax-exempt financing markets at borrowing costs comparable to the state's. The bonds are guaranteed by the program's Health Facility Construction Loan Insurance Fund (HFCLIF), but the ultimate backing for the loans is the full faith and credit of the state. The HFCLIF is funded by the 0.5% premium charged
