S&P rates Stanford Hospital, Calif., bonds A/A-1

Standard & Poor's said it assigned its A/A-1 rating to the California Health Facilities Finance Authority's $168.2 million of series 2008D, E, H and I hospital revenue bonds, issued on behalf of Stanford Hospital and Clinics, Calif.

The agency said that affected issues include the $160.3 million of hospital multi annual put revenue bonds series 2008A-C, $85.7 million of hospital variable-rate demand bonds series 2008F, $84.1 million of hospital revenue bonds series 2008H&I, $84.1 million of hospital revenue bonds series 2008D&E and $14.3 million of hospital variable-rate demand bonds series 2008G.

S&P said it also assigned its A underlying rating to the $100 million of series 2008F and G variable-rate demand bonds, which will be backed by a letter of credit from Bank of America.

In addition, S&P said it assigned its A rating to the $160.3 million of series 2008A, B and C multi-annual put revenue bonds.

Finally, S&P said it affirmed its A rating and underlying rating on Stanford's outstanding revenue bonds, including the series 2003B, C and D.

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