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Summary: Illinois Finance Authority Resurrection Health Care; Joint Criteria Feb 09 Product Image

Summary: Illinois Finance Authority Resurrection Health Care; Joint Criteria Feb 09

  • ID: 1723475
  • February 2009
  • Region: Illinois
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services removed its 'AA+/A-1+' rating on Illinois Finance Authority's (Resurrection Health Care) hospital variable-rate demand bonds revenue bonds series 2008A from CreditWatch with negative implications. At the same time, Standard & Poor's affirmed its rating on the bonds. The long-term component of the rating is based jointly (high correlation) on Standard & Poor's underlying rating (SPUR) for Resurrection Health Care and the direct-pay irrevocable letter of credit (LOC) provided by LaSalle Bank Midwest N.A. The short-term component of the rating is based on LaSalle Bank Midwest N.A. This action follows Standard & Poor's downgrade of LaSalle Bank Midwest N.A. to AA-/Negative/A-1+ from AA/Watch Neg/A-1+....

Companies mentioned in this report are:
- Illinois Fin Auth

Action: Removed From CreditWatch

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 READ MORE >

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