Standard & Poor's Ratings Services affirmed its 'BBB' long-term rating and underlying rating (SPUR) on the Illinois Finance Authority's series 2008A, 2005A, 2005C, and 1999 bonds issued for Silver Cross Health System (SCHS) and affiliates. At the same time, Standard & Poor's affirmed its 'BBB' long-term rating on the authority's series 2009 fixed-revenue bonds issued for SCHS. The rating affects $382 million of long-term debt. The rating reflects our view of SCHS': Improved profitability, with a 2.9% profit margin for the six months ended March 31, 2010, as compared with a weak fiscal 2009 and 0.9% profit margin; Good business position with a continued 31% market share in Will County, further enhanced by plans to relocate to New Lenox and...
Companies mentioned in this report are:
- Silver Cross Hosp
- Illinois Finance Authority
Action: Outlook: Stable
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