Fitch's main credit concern is the complexity of ABHOW's organizational structure and potential for dilution to the obligated
group bondholders from future support of non-obligated
affiliates from the obligated
The ABHOW Obligated
Group consists of eight CCRC facilities in California which are further supported by a guaranty of American Baptist Homes Foundation of the West (the Foundation).
45,000,000 Michigan State Hospital Finance Authority hospital revenue bonds (Mercy Health Services Obligated
Group), 1996 series Q, AMBAC insured
With the 1997 financing program, DCNHS implements its expanded obligated
group structure, which for the first time adds non-DCNHS members to the obligated
The rating reflects the collective strength of four individual hospitals forming the bulk of the obligated
group; the fifth member is the parent holding corporation that performs many centralized functions.
SOMSC) resulting in a larger and financially stronger obligated
Since 1991, the obligated
group's financial operating performance has steadily improved, with operating margins increasing from 1.
The affirmation of the 'BBB-' is supported by sound occupancy at the Maryland Obligated
Group despite the recessionary effects, solid demand for the Asbury Methodist Village (AMV) and Asbury-Solomons Island (A-S) product, and continued profitability from core operations.
0 million bottom-line loss of the obligated
group in 1992.
Colorado Health Facilities Authority (CO) Adventist Health System/Sunbelt Obligated
Group) hospital revenue bonds series 2004B;
group for the series 1993 bonds consists of HealthEast, seven other non-profit corporations, and one for-profit corporation.
6 million New Jersey Economic Development Authority revenue bonds (Presbyterian Homes & Services [PHS] of New Jersey Obligated
Group) series 1998A and $42 million New Jersey Economic Development Authority revenue bonds (PHS of New Jersy Obligated
Group) series 1998B1 and 1998B2 (taxable).
The bonds will be secured by a gross revenue pledge of the obligated
group, which consists of The William W.
5 million allocated to Utah, have been obligated
in just two weeks.
is a not for profit corporation composed of four obligated
group members and several non-obligated