“The outlook revision reflects our view of CHOC’s growing volumes and improving operating income and cash flow after the tower opening and some ongoing delays with receipt of funds from the California provider fee program,” said S&P analyst Suzie Desai.
S&P also affirmed the “A-” long-term rating on CHOC’s series 2011 and 2009A fixed rating bonds, as well as its “AA/A-1+” rating and “A-” underlying rating on CHOC’s series 2009B, 2009C and 2009D variable rate demand bonds.
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