NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has revised the long-term rating to 'AA-' from 'AA+' and withdrawn the 'F1+' rating assigned to the California Health Facilities Financing Authority (CA) (Stanford Hospital and Clinics) hospital revenue bonds series 2008A-2. The ratings actions are in connection with the June 15, 2011 mandatory tender of the bonds, subsequent termination of the letter of credit (LOC) provided by Bank of America, N.A. supporting the bonds and reoffering of the bonds in a long term rate mode.
In addition, the remarketing of the California Health Facilities Financing Authority (CA) (Stanford Hospital and Clinics) hospital revenue bonds series 2008B-2 does not affect its ratings, according to Fitch Ratings.
With this remarketing these bonds will receive new CUSIPs:
California Health Facilities Financing Authority 2008A-2
California Health Facilities Financing Authority 2008B-2
California Health Facilities Financing Authority 2008B-2 subseries 1
California Health Facilities Financing Authority 2008B-2 subseries 2
Additional information is available at 'www.fitchratings.com'.
Cindy Stoller, +1-212-908-0526
Media Relations, New York
Richard Park, +1-212-908-0289
33 Whitehall Street
New York, NY 10004
Trudy Zibit, +1-212-908-0689
KEYWORDS: United States North America California New York
INDUSTRY KEYWORDS: Education University Health Hospitals Professional Services Finance