|
|
 |
|
Viewing report
|
|
|
|
Advocate Health Care Network, IL Bond Ratings Affirmed Aug 00
Standard & Poors, Aug 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) Aug. 30, 2000--Standard & Poor's today affirmed its ratings on Illinois Health Facilities Authority's bonds, issued for Advocate Health Care Network (AHCN), as follows: $209.4 million variable-rate demand revenue refunding bonds at double-'A'/'A-1'; and $231.89 million bonds at double-'A'. The outlook remains negative. The long-term rating is affirmed reflecting a strong management team; AHCN's leading 14% market share of Chicagoland patient admissions (125,253 admissions in 1999); and very strong historical financial performance with revenues approaching $2.1 billion, an excess margin of 6.9% (obligated and nonobligated entities), and unrestricted cash and investments to debt of 166% in the fiscal year ended Dec. 31, 1999. Pro forma coverage is very strong at 7.5 times, and leverage...
Companies mentioned in this report are: Advocate Hlth Care Network,Illinois Hlth 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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
