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Advocate Health Care Network, Illinois; Health Care, System; Public Finance Structured, Liquidity Facility Jun 05
Standard & Poors, June 2005
Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating to Illinois Finance Authority's $225.25 million revenue refunding bonds, series 2005, issued for Advocate Health Care Network (AHCN), which is based in Oak Brook, Ill. Standard & Poor's also affirmed its 'AA' and 'AA/A-1+' ratings on Illinois Health Facilities Authority's $606.7 million outstanding bonds issued on behalf of AHCN. The series 2005 bonds are expected to be insured at closing by Ambac and will be rated accordingly, at which time the assigned 'AA' rating will be converted to a Standard & Poor's underlying rating (SPUR). Series 2005 bond proceeds will be used to refund portions of AHCN's series 1997A and 2000 bonds and finance issuance costs and bond insurance. AHCN is...
Companies mentioned in this report are: Advocate Hlth Care Network,Illinois Hlth Fac Auth,Illinois Fin Auth
Action: New Rating
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.
Research Type: Full Analysis
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