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

S&P Global Ratings raised its long-term rating to 'BB' from 'BB-' 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. The outlook is stable. The rating action reflects our view of the full completion of the campus transformation project (CTP) with full occupancy over a year, thereby eliminating CTP-related project risk, and growing volumes despite COVID-19 surges. Securing the bonds are the obligated group's gross receivables, a mortgage, and a deed of trust that consists of LLUMC; LLUCH; LLUMC's East Campus Hospital, Outpatient Rehabilitation Center, and Surgical Hospital, and LLUMC--Murrieta. References to LLUMC throughout the report include the consolidated system. (The Credit

...+ S&P Global Ratings raised its long-term rating to '##' from '##-' 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. + The outlook is stable. + The rating action reflects our view of the full completion of the campus transformation project (CTP) with full occupancy over a year, thereby eliminating CTP-related project risk, and growing volumes despite COVID-19 surges....

Summary