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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

  • Published: February 2009
  • Region: Illinois
  • Standard & Poors

FEATURED COMPANIES

  • Illinois Fin Auth
  • Resurrection Hlth Care
  • MORE

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:
- Resurrection Hlth Care
- 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 READ MORE >

- Resurrection Hlth Care
- Illinois Fin Auth

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