Standard & Poor's Ratings Services assigned its 'AA+' standard long-term rating to Illinois Finance Authority $229.98 million series 2008 hospital revenue refunding bonds, issued for Northwestern Memorial Hospital (NMH). Standard & Poor's also affirmed its 'AA+' long-term rating and 'AA+/A-1+' ratings on various series of bonds issued by Illinois Finance Authority and Illinois Health Facilities Authority for NMH. NMH has been rated 'AA+' since April 2000 when it was upgraded from 'AA'. NMH's long-term debt outstanding at fiscal year ended Aug. 31, 2008, is $785.7 million. The authority will use the series 2008 bond proceeds to advance refund its $205.4 million series 2004C1, 2004C2, 2004C3, and 2004C4 auction-rate bonds, insured by Financial Security Assurance Inc. The analysis and financial figures...
Companies mentioned in this report are:
- Northwestern Mem HlthCare
- Illinois Hlth Fac Auth
- Illinois Finance Authority
Action: New Rating
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Research Type: Full Analysis