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Advocate Health Care Network, Illinois; Liquidity Facility; System Feb 07
Standard & Poors, Feb 2007
Abstract
Standard & Poor's Ratings Services affirmed its 'AA' long-term and underlying rating (SPUR) on Advocate Health Care Network, Ill.'s (AHCN) various health care 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. The health network had total long-term debt outstanding of $484.8 million at Sept. 30, 2006. The 'AA' long-term rating reflects: AHCN's leading 13.7% market share for the 12-month period ended June 30, 2006, and a 1.8% increase in acute care admissions to 108,191 from 106,300 for the nine months ended Sept. 30, 2006, compared to the same period in the prior...
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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