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Summary: Illinois Finance Authority Delnor-Community Hospital; Hospital; Joint Criteria Nov 09

  • ID: 1723702
  • November 2009
  • Region: Illinois
  • Standard & Poors
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FEATURED COMPANIES

  • Delnor Comnty Hosp
  • Illinois Hlth Fac Auth
  • MORE

Abstract
Standard & Poor's Ratings Services lowered its joint criteria rating to 'AA+/A-2' from its 'AAA/A-1+' on Illinois Finance Authority's (Delnor-Community Hospital) series 2008A variable-rate demand revenue refunding bonds that were issued to refinance the series 2006 auction-rate bonds due to the downgrade of the letter-of-credit (LOC) provider. This action is based on Standard & Poor's application of joint criteria assuming low correlation between Delnor-Community Hospital ('A') and the LOC provider, Fifth Third Bank ('BBB+/A-2'). The 'A-2' short-term component of the rating reflects the short-term rating on the LOC provider. Fifth Third Bank's rating was lowered on June 17, 2009. The expected expiration date of the LOC is June 4, 2011, unless otherwise terminated or extended according to its terms. Standard...

Companies mentioned in this report are:
- Delnor Comnty Hosp
- Illinois Hlth Fac Auth
- Illinois Finance Authority

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 READ MORE >

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- Delnor Comnty Hosp
- Illinois Hlth Fac Auth
- Illinois Finance Authority

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