Due to their status as regional hospitals, obligors
have a strategic role in the provision of health care service in their regional territory.
The previous guidelines failed to incorporate in a substantive way the obligee's income in determining the amount to be paid by the obligor
Paragraph 6 must be completed to show what percentage, if any, of a one time payment made to the obligor
should be applied to any arrearage in support that may be due to the obligee.
5 all contain corresponding provisions providing for the publishing of names of delinquent support obligors
1) Such obligors
have failed to make full interest payments on external indebtedness; or
Furthermore, Fitch will continue to monitor the series as the transaction amortizes to assess the impact of increasing obligor
At end-2016, four (out of the total eight) obligors
continued to be subject to such approval.
4m to date, along with prepayments by some of the obligors
, the negative spread in the transaction has widened further.
Fitch evaluated the sensitivity of the ratings to increased obligor
defaults in the portfolio by applying 'CCC' ratings to the unrated obligors
in the portfolio, stressed down from the 'B' rating applied under the base recommended scenario.
25, 2011, Fitch applied losses from the largest performing obligors
commensurate with the individual rating category.
The bonds are payable from repayments from interest-bearing loans made directly from bond proceeds to governmental entities and other qualifying obligors
(trust loans) and zero-interest loans made to governmental entities and other qualifying obligors
primarily from federal capitalization grants and state match amounts (fund loans).
The "negative" watch has been prompted by RAM Ratings' concerns over the vulnerability of the super senior bonds given the recent default by one of Idaman's obligors
, the agency explained.