S&P Global Ratings has assigned an "AA-" rating to Petaluma (Calif.) Health Center's $5.7 million of series 2016 insured refunding revenue bonds, issued through the California Health Facilities Financing Authority.
"The long-term rating is based on our assessment of insurance from the California Health Facilities Construction Loan Insurance Program," said S&P analyst Patrick Zagar. "The ultimate backing for the program, however, is the full faith and credit of California."
The outlook is stable, reflecting S&P's GO debt rating on California.