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Advocate Health Care Network, Illinois; System Jan 08
Standard & Poors, Jan 2008
Abstract
Standard & Poor's Ratings Services affirmed its 'AA' standard long-term and underlying rating (SPUR) on Advocate Health Care Network (AHCN), Ill.'s various health care revenue and refunding bonds, issued by Illinois Educational Facilities Authority and Illinois Health Facilities Authority. At the same time, Standard & Poor's also affirmed its 'A-1+' short-term ratings on Illinois Health Facilities Authority's series 2003A-C bonds, issued for AHCN. Total long-term debt at Sept. 30, 2007, was $565.1 million, including $109.3 million of debt classified as a current liability subject to short-term remarketing agreements that Standard & Poor's treats as long-term debt for the purpose of our debt-related ratios. The 'AA' long-term rating reflects AHCN's: Leading 13.7% market share for the 12 months ended June 30,...
Companies mentioned in this report are: Advocate Hlth Care Network,Illinois Hlth Fac Auth,Illinois Educl Fac Auth
Action: Affirmed
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
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