Illinois Health Facilities Authority Advocate Health Care Network; System Dec 09
Standard & Poors, December 2009
Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to the Illinois Health Facilities Authority's $237.525 million series 2009A-D hospital revenue and refunding bonds issued on behalf of Advocate Health Care Network (AHCN). Also, Standard & Poor's affirmed its 'AA' long-term ratings and, where applicable, 'AA/A-1+' ratings on various series of bonds issued by the authority on behalf of AHCN. The long-term rating on AHCN reflects its strength as Chicago's largest health system, with total operating revenue of $3.7 billion in 2008 and a balance sheet with $4.9 billion of total assets, including $2 billion of unrestricted liquid assets. Total long-term debt in 2008 was $964 million. This includes debt classified on the audited financial statements as current liability...
Companies mentioned in this report are:
- Advocate Hlth Care Network
- Illinois Hlth Fac Auth
Action: New Rating
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
- Advocate Hlth Care Network
- Illinois Hlth Fac Auth
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