Standard & Poor's Ratings Services assigned its 'AA+' rating to Illinois Finance Authority's (IFA) $187.210 million hospital revenue bonds series 2004 and $217.075 million hospital revenue bonds series 2004C-1-4, both issued for Northwestern Memorial Hospital (NMH). Standard & Poor's also affirmed its 'AA+' rating on Illinois Health Facilities Authority's $140.725 million series 1994A hospital revenue bonds, also issued for NMH. Upon issuance of the 2004C-1-4 bonds, the rating on the series 1994A bonds will be removed, reflecting the refinancing of those bonds. In addition, the IFA is expected shortly to issue about $83.7 million series 2004B variable-rate demand bonds, also for NMH. The rating on these bonds (series 2004B) will be based on NMH's long-term credit strength and supplemental liquidity...
Companies mentioned in this report are:
- Northwestern Mem HlthCare
- Illinois Hlth Fac Auth
- Illinois Finance Authority
Action: New Rating
Action: Outlook: Stable
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