Summary: Illinois Finance Authority Provena Health System; Letter of Credit Sep 10

Standard & Poors, September 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA-/A-1+' and 'A+/A-1' ratings to Illinois Finance Authority's (Provena Health System) variable-rate demand revenue bonds series 2010C and 2010D, respectively. Each bond is supported by its own letter of credit (LOC), and the bonds are not cross collateralized. The series 2010C bonds are backed by an LOC from JP Morgan Chase Bank N.A. (AA-/A-1+). The series 2010D bonds are backed by an LOC from Union Bank N.A. (A+/A-1). The LOC from JP Morgan Chase Bank N.A. is sized at 42 days' interest calculated at the maximum rate of 12% on the bonds. The LOC from Union Bank N.A. is sized at 44 days' interest calculated at the maximum rate of 12% on the...

Companies mentioned in this report are:
- Provena Health System
- Illinois Fin Auth

Action: New Rating

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Provena Health System
- Illinois Fin Auth

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