...December 17, 2020 SAN FRANCISCO (S&P Global Ratings) Dec. 17, 2020--S&P Global Ratings assigned its '###' long-term rating to the California Municipal Finance Authority's approximately $35 million series 2021 private placed tax-exempt fixed rate certificates of participation (COPs), issued for Palomar Health. At the same time, S&P Global Ratings affirmed its '###' long-term rating on the California Municipal Finance Authority's existing revenue bonds and COPs, issued for Palomar Health. S&P Global Ratings also affirmed its '###' long-term rating and underlying (SPUR) on Palomar Health's previously issued general obligation (GO) bonds. The outlook is negative. The bonds will be privately placed and are secured by a gross revenue pledge of the obligated group, which includes Palomar Health. The series 2021 bond proceeds will be used towards a parking garage on the Escondido campus ($29 million), new signage ($3 million), a debt service reserve fund and the costs of issuance. On April 21,...
