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Advocate Health Care Network, IL 'AA' and 'A-1' Ratings Affirmed; Outlook Negative Aug 01
Standard & Poors, Aug 2001
Abstract
NEW YORK (Standard & Poor's) Aug. 23, 2001-Standard & Poor's today affirmed its double-'A' long-term rating on Illinois Health Facilities Authority's bonds issued for Advocate Health Care Network (AHCN). The outlook is negative. The results reported herein, unless otherwise noted, are for AHCN and subsidiaries, including restricted affiliates and excluded affiliates of AHCN. The affirmation of AHCN's long-term rating reflects this regional health care system's sound management; strong patient utilization and market presence; a very strong financial position, with excellent 4.9 times (x) coverage of maximum annual debt service; and moderate leverage evidenced by a 29.8% debt-to-capital ratio. The short-term 'A-1' rating affirmation of the variable-rate demand revenue refunding bonds, series 1997B, reflects a standby bond purchase agreement provided as...
Companies mentioned in this report are: Advocate Hlth Care Network
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.
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