Summary: Illinois Finance Authority OSF Healthcare System; Joint Criteria; System Feb 09

Standard & Poors, February 2009

Abstract
Standard & Poor's Ratings Services assigned its 'A' standard long-term rating to Illinois Finance Authority's $142.505 million series 2009A fixed-rate bonds and $138.780 series 2009B variable-rate demand bonds, issued on behalf of OSF Healthcare System (OSF). The Standard & Poor's Structured Finance group will assign a joint criteria rating to the series 2009B bonds in a separate analysis. The outlook is stable. OSF will use bond proceeds to refund series 2005A, 2005B, 2007B, 2007C, and 2007D auction-rate bonds. No new money is being issued at this time, but OSF has plans to issue about $75 million of new money later in fiscal 2009 to fund the installation of their information technology (IT) system, EPIC, together with a new data center....

Companies mentioned in this report are:
- OSF Hlthcare Sys
- Illinois Fin Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- OSF Hlthcare Sys
- Illinois Fin Auth

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