Summary: Channahon, Illinois Morris Hospital and Healthcare Centers; Hospital; Joint Criteria
- ID: 1724315
- May 2011
- Region: Illinois
- Standard & Poors
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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.
Standard & Poor's Ratings Services affirmed its 'BBB+' underlying rating (SPUR) and 'AAA/A-1+' dual rating on the Village of Channahon, Ill.'s series 2009A and 2009B variable-rate demand revenue bonds issued for Morris Hospital and Healthcare Centers (Morris Hospital). At the same time, Standard & Poor's affirmed its 'BBB+' long-term rating on the village's series 1999 revenue bonds and the Upper Illinois River Valley Development Authority's series 2001 revenue bonds, also issued for Morris Hospital. The outlook is stable. The dual rating is based on low-correlation joint criteria between the Morris Hospital 'BBB+' SPUR and the letter of credit (LOC) provider, U.S. Bank (AA-/A-1+). The LOC expires April 2012. The rating affirmation reflects our view of Morris Hospital's stable market position...
Companies mentioned in this report are: Morris Hosp,Upper Illinois River Vy Dev Auth,Channahon Vill
Action: Outlook: Stable
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