Illinois Health Facilities Authority Illinois Finance Authority Northwest Community Hospital, Illinois; Hospital Jan 11

Standard & Poors, January 2011

Abstract
Standard & Poor's Ratings Services lowered its long-term rating and issuer credit rating (ICR) to 'A+' from 'AA-' and revised the outlook to stable from negative on Northwest Community Hospital's (NCH) debt outstanding issued by the Illinois Health Facilities Authority and Illinois Finance Authority. Standard & Poor's also lowered its dual rating to 'A+/A-1' from 'AA-/A-1+' on NCH's series 2002B variable-rate demand bonds (VRDBs). The 'A-1' short-term component of the dual rating is based on a JPMorgan Chase Bank N.A. standby bond purchase agreement (SBPA), which expires on Nov. 2, 2012. The short-term rating is capped to the long-term rating as per Standard & Poor's criteria. The 'A+' long-term component of the rating is based on NCH's credit profile. The...

Companies mentioned in this report are:
- Northwest Comnty Hosp
- Illinois Hlth Fac Auth
- Illinois Fin Auth
- JPMorgan Chase Bank N.A.

Action: Downgraded

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 and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

- Northwest Comnty Hosp
- Illinois Hlth Fac Auth
- Illinois Fin Auth
- JPMorgan Chase Bank N.A.

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