Summary: SwedishAmerican Hosp, IL; Health Care, Hospital Dec 04

Standard & Poors, December 2004

Abstract
Standard & Poor's Ratings Services assigned its 'A-' standard long-term rating to Illinois Finance Authority's $101.64 million series 2004 revenue bonds, issued on behalf of SwedishAmerican Hospital (SAH), Ill. Standard & Poor's also affirmed its 'A-' rating on the $32.13 million series 2000 bonds, issued by Illinois Health Facilities Authority. SAH expects to issue $25 million of revenue bonds, series 2005, in January 2005. The 2005 bond issue is considered in this analysis. The outlook is stable. The rating reflects SAH's: Stable business position, with steady volume growth in its northern Illinois and southern Wisconsin primary service area, where the organization garners about 34% of the market, despite sizable competition nearby; Sound operations, reflected by positive operating and net margins...

Companies mentioned in this report are:
- SwedishAmerican Hosp
- Illinois Hlth Fac Auth
- Illinois Fin Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- SwedishAmerican Hosp
- Illinois Hlth Fac Auth
- Illinois Fin Auth

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