PubFinCriteria_2006_part1_final1.qxp
corporate model has fallen into disfavor in recent years, a number of the largest systems have this legacy structure. While the ...
Standard & Poor’s also expects that the unse- cured GO pledge remains the senior debt of the credit group. The permitted lie ...
■Financing terms that can be more flexible and more suitable to the specific asset being financed; and ■Legal covenant flexibili ...
system’s credit standing can be enhanced by geo- graphic, financial, and product line dispersion. When rating systems, Standard ...
ing procedures (financial and health-oriented) are analyzed, but this may be most critical to life-care organizations, which are ...
Legal Criteria Standard & Poor’s legal criteria for CCRC financ- ings are similar to those for health care revenue bond fina ...
However, Standard & Poor’s seldom views these new entities as totally “off-credit” from the existing organization. Instead, ...
ing” criteria may apply. In some cases, even if the obligated group is adequately “ring-fenced” from credit risk of non-obligate ...
Legal Issues Related To Non-Recourse Debt Standard & Poor’s analysis hinges upon assessing both the willingness to support n ...
Structural features Structural features are focused on addressing two main concerns: (1) whether a healthy obligated group’s ass ...
Rating Criteria Standard & Poor’s Ratings Services applies the fol- lowing criteria to the outstanding public finance group ...
hospitals, ambulatory care, surgery, and emer- gency centers, other professionals and payors, such as HMOs and insurance compani ...
■Other liabilities, such as incurred but not report- ed claims, malpractice claims paid and pending, guarantees, leases, and oth ...
which can diversify funding and market risk. However, there is additional risk if the provider’s service area is too large to ma ...
Legal and security provisions The legal and security provisions are also similar to those found in revenue bond financings. In g ...
College And University Credit Ratings T he evaluation of private colleges and universities focuses on four core areas—demand, fi ...
applicants to an institution’s programs—for under- graduates, graduate, and professional students. Standard & Poor’s measure ...
Program offerings. Schools with highly special- ized programs can fall out of favor quickly. On the other hand, schools with spe ...
tion rates of 90% or more. A retention rate of 65% or below, or conversely, an attrition rate of 35% from year-to-year can be ca ...
Risk management Standard & Poor’s evaluates institutions for their ability to plan in the event that operations become disru ...
«
4
5
6
7
8
9
10
11
12
13
»
Free download pdf