Summary: California Health Facilities Financing Authority; Cal-Mortgage Loan Insurance

The rating on the Cal-Mortgage Insurance Program is lowered to 'BBB' from 'A' and is removed from CreditWatch, where it had been placed July 2, 2003, based on the downgrade of the State of California's GO rating. The State of California's downgrade resulted from the lack of progress in adopting a fiscal 2004 budget, which has been aggravated by the gubernatorial recall election that has now been scheduled for Oct. 7, roughly three months into fiscal 2004. The Cal-Mortgage Insurance Program downgrade is based solely on the state's rating and does not reflect any underlying credit concerns regarding Cal-Mortgage. The outlook is stable. The Cal-Mortgage program, since its inception in 1968, has helped health care facilities in California gain access

...Credit Profile DOWNGRADED, OFF CREDITWATCH To From California Hlth Facs Fin Auth, California $110,000 California Hlth Facs Fin Auth (Desarrollo Familiar) ### A $815,000 California Hlth Facs Fin Auth ### A $1.855 mil. California Hlth Facs Fin Auth (Feedback Foundation/Olive Crest Treatment Ctrs) ### A California Hlth Facs Fin Auth, California On Lok Sr Svcs, California $11.870 mil. California Hlth Facs Fin Auth (On Lok Sr Svcs) ### A California Hlth Facs Fin Auth, California St Pauls Episcopal Home Inc, California $5.220 mil. California Hlth Facs Fin Auth (St Pauls Episcopal Home Inc) ### A California Hlth Facs Fin Auth, California Aids Hospice Foundn, California $4.350 mil. California Hlth Facs Fin Auth (Aids Hospice Foundn) ### A Airport Marina Counseling Svc, California $625,000 California Hlth Facs Fin Auth (Airport Marina Counseling Svc) ### A California Hlth Facs Fin Auth, California Asian Comnty Hosp, California $2.265 mil. California Hlth Facs Fin Auth (Asian Comnty Hosp) ### A California...

Summary