California Health Facilities Financing Auth Cuts 2022-XF1324 Rating To 'A/A-1', 'A' After Underlying Bonds Downgraded - S&P Global Ratings’ Credit Research

California Health Facilities Financing Auth Cuts 2022-XF1324 Rating To 'A/A-1', 'A' After Underlying Bonds Downgraded

California Health Facilities Financing Auth Cuts 2022-XF1324 Rating To 'A/A-1', 'A' After Underlying Bonds Downgraded - S&P Global Ratings’ Credit Research
California Health Facilities Financing Auth Cuts 2022-XF1324 Rating To 'A/A-1', 'A' After Underlying Bonds Downgraded
Published Dec 30, 2022
2 pages (1212 words) — Published Dec 30, 2022
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Abstract:

CHICAGO (S&P Global Ratings) Dec. 30, 2022--S&P Global Ratings lowered its long-term rating components on FMS Bonds Inc.'s series 2022-XF1324 tender-option-bond trust puttable-floating-rate receipts (floaters) and inverse-floating-rate receipts (residuals), related to the California Health Facilities Financing Authority revenue bonds, to 'A/A-1' and 'A', respectively, from 'A+/A-1' and 'A+', respectively. This rating action follows S&P Global Ratings' action on the underlying bonds. (For further information, please see the article, titled "City of Hope, CA Debt Rating Lowered To 'A' From 'A+' On Increased Leverage, Weaker Operating Performance," published on Dec. 23, 2022, on RatingsDirect.) The long-term component of the rating on the floater and the rating on the residual reflect the rating on the underlying bond and S&P Global Ratings' expectation

  
Brief Excerpt:

STANDARD & POOR'S, S&P and RATINGSDIRECT are registered trademarks of Standard & Poor's Financial Services LLC. S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or...

  
Report Type:

Ratings Action

Issuer
California Health Facilities Financing Authority
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "California Health Facilities Financing Auth Cuts 2022-XF1324 Rating To 'A/A-1', 'A' After Underlying Bonds Downgraded" Dec 30, 2022. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/California-Health-Facilities-Financing-Auth-Cuts-2022-XF1324-Rating-To-A-A-1-A-After-Underlying-Bonds-Downgraded-2933044>
  
APA:
S&P Global Ratings’ Credit Research. (). California Health Facilities Financing Auth Cuts 2022-XF1324 Rating To 'A/A-1', 'A' After Underlying Bonds Downgraded Dec 30, 2022. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/California-Health-Facilities-Financing-Auth-Cuts-2022-XF1324-Rating-To-A-A-1-A-After-Underlying-Bonds-Downgraded-2933044>
  
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