Summary: Illinois Finance Authority Resurrection Health Care; Joint Criteria Feb 09
- ID: 1723475
- February 2009
- Region: Illinois
- Standard & Poors
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
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