...S&P Global Ratings revised its outlook to stable from positive on the California Municipal Finance Authority's series 2015 and 2017 bonds and affirmed its 'A-' rating on those bonds issued on behalf of Community Hospitals of Central California (d/b/a Community Health System [CHS]). Additionally, S&P Global Ratings assigned its 'A-' rating to the authority's $303 million series 2021A tax-exempt fixed-rate bonds and $134 million series 2021B taxable bonds, issued on behalf of CHS. Series 2021A tax-exempt bond proceeds, along with premium, will be used to finance ($69 million) and reimburse ($231 million) the members of the obligated group for a portion of the cost of the expansion of Clovis Community Medical Center (CCMC), including the construction of a new tower containing inpatient beds, expansion of the emergency and surgery departments, addition of a Heart and Lung Institute, expanded support services, and the purchase of certain equipment. The total budget is $430 million (which includes...
