Standard&Poor's Ratings Services assigned its 'A+' rating to Palomar Pomerado Health District (PPH), Calif.'s $110 million series 2009A general obligation (GO) bonds and affirmed its 'A+' underlying rating (SPUR) on all outstanding district GO bonds. Credit strengths in support of the rating include our view of: The strength provided by the district's long-term contract with Kaiser; Continued very strong direct market share that approaches 60% when including the Kaiser contract benefits; Improved financial performance through the first six months of fiscal 2009 as a result the district's initiatives to address weakened financials in fiscal 2008; Continued growth in the district's diverse tax base, although slower growth, as was the case in fiscal 2009, is expected for fiscal 2010
