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Advocate Health Care Network, Illinois; Health Care, System; Public Finance Structured, Liquidity Facility May 04
Standard & Poors, May 2004
Abstract
Standard & Poor's Ratings Services affirmed its 'AA/A-1+' rating on Illinois Health Facilities Authority's $115 million revenue bonds series 2003A-C 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 $408.7 million outstanding bonds issued on behalf of AHCN. The short-term 'A-1+' rating assigned to the series 2003A-C bonds reflects the credit strength inherent in AHCN's 'AA' long-term rating as well as the sufficiency of AHCN's unrestricted assets in providing liquidity support for the series 2003A-C bonds, which were issued as multi-modal bonds with initial put periods occurring in January, March, and July of each year. The affirmation...
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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