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Advocate Health Care Network, Illinois; Health Care, System; Public Finance Structured, Liquidity Facility Dec 04
Standard & Poors, Dec 2004
Abstract
Standard & Poor's Ratings Services affirmed its 'AA/A-1+' rating on Illinois Health Facilities Authority's $115 million series 2003A-C revenue bonds, issued on behalf of Advocate Health Care Network (AHCN), which is based in Oak Brook, Ill. Standard & Poor's also affirmed its 'AA' and 'AA/A-1+' ratings on Illinois Health Facilities Authority's approximately $439.4 million outstanding bonds issued on behalf of AHCN. The outlook is stable. The affirmation of the 'AA' long-term ratings reflects: AHCN's position as Chicago's largest integrated health delivery system, with 4,600 physicians and more than 200 care delivery sites; A leading market position in a competitive market; A strong governance structure and management team; A solid financial profile with 3.1% and 4.5% operating and excess margins recorded,...
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: Full Analysis
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