|
|
 |
|
Viewing report
|
|
|
|
Carle Foundation, Illinois; Health Care, Hospital
Standard & Poors, Dec 2005
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
Abstract
Standard & Poor's affirmed its 'AA-' underlying rating (SPUR) on the $189.6 million series 2004A auction rate revenue bonds issued by the Illinois Health Facilities Authority for the Carle Foundation Hospital (Carle). The affirmed rating reflects Carle's: Solid business position, reflected by a leading and growing market share of 39.5% in the Champaign-Urbana area, growing volumes, and the provision of differential and tertiary levels of services compared with the main competitor in the area; Symbiotic relationship with the independent Carle Clinic, which is supported by long-term building leases, governance and operational ties; Maintenance of strong liquidity levels with more than 350 days' cash on hand; and Good excess income yielding greater than 5.0x maximum annual debt service coverage. Offsetting factors...
Companies mentioned in this report are: Carle Foundn,Illinois Hlth Fac Auth,Illinois Fin Auth
Action: Affirmed
|
|
|
|
