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Advocate Health Care Network, Illinois; Liquidity Facility; System Oct 06
Standard & Poors, Oct 2006
Abstract
Standard & Poor's Ratings Services affirmed its 'AA' long-term and underlying rating (SPUR) on Advocate Health Care Network, Ill.'s (AHCN) various healthcare revenue and refunding bonds, issued by Illinois Finance Authority and Illinois Health Facilities Authority. Standard & Poor's also affirmed its 'A-1+' short-term ratings on Illinois Health Facilities Authority's series 1997B and 2003A-C bonds, issued for AHCN. Total long-term debt outstanding is $497.1 million as of June 30, 2006. The 'AA' long-term rating reflects AHCN's: Leading 13.5% market share for the 12-month period ended March 31, 2006, and 1.7% increase in acute care admissions to 72,080 from 70,911 for the first half of 2006, compared with the same period in the prior year, whereas the next largest health system...
Companies mentioned in this report are: Advocate Hlth Care Network,Illinois Hlth Fac Auth,Illinois Fin Auth
Action: Affirmed
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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