Advocate Health Care Network, Illinois; Liquidity Facility; System Sep 07
Standard & Poors, September 2007
Abstract
Standard & Poor's Ratings Services assigned its 'AA' standard long-term rating to Illinois Finance Authority's $499.73 million series 2007A-B health system revenue bonds, issued for Advocate Health Care Network (AHCN). Management expects the bonds to be insured, after which Standard & Poor's will convert the rating to an underlying rating (SPUR). The bonds are being offered as auction-rate securities. The series 2007 bonds include $200 million of new debt to support AHCN's strategic capital program, including a major expansion and renovation program underway at its Advocate Lutheran General Hospital. In addition, Standard & Poor's affirmed its 'AA' long-term and SPUR on various health care revenue and refunding bonds, issued for AHCN. Standard & Poor's also affirmed its 'A-1+' short-term ratings...
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
- Advocate Hlth Care Network
- Illinois Hlth Fac Auth
- Illinois Fin Auth
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