Loma Linda University Medical Center, California California Statewide Communities Development Authority; System

S&P Global Ratings revised its outlook to stable from negative and affirmed its 'BB-' rating on the California Statewide Communities Development Authority's series 2018, 2016A, 2014A, and 2014B fixed-rate revenue bonds issued for the Loma Linda University Medical Center (LLUMC) obligated group. While LLUMC includes several entities, a subset of these organizations comprises the LLUMC obligated group (outlined in the credit snapshot). References to LLUMC throughout the report include both the obligated and nonobligated group entities unless specified. The outlook revision reflects our view of LLUMC's successful completion of the campus transformation project (opened on time and on budget in August 2021), improved financial performance in fiscal 2021 despite COVID-19 related pressure, expectations for stable liquidity and no new debt,

...S&P Global Ratings revised its outlook to stable from negative and affirmed its '##-' rating on the California Statewide Communities Development Authority's series 2018, 2016A, 2014A, and 2014B fixed-rate revenue bonds issued for the Loma Linda University Medical Center (LLUMC) obligated group. While LLUMC includes several entities, a subset of these organizations comprises the LLUMC obligated group (outlined in the credit snapshot). References to LLUMC throughout the report include both the obligated and nonobligated group entities unless specified. The outlook revision reflects our view of LLUMC's successful completion of the campus transformation project (opened on time and on budget in August 2021), improved financial performance in fiscal 2021 despite COVID-19 related pressure, expectations for stable liquidity and no new debt, as well as ongoing realization of various growth and expense management initiatives that should result in positive, albeit softer, operations in fiscal 2022....

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