Fitch Ratings

Fitch Affirms Centegra Health's Illinois Bonds at 'A-'

Published in Lab Law Weekly, October 17th, 2008

Fitch Ratings affirms the approximately $120 million Illinois Health Facilities Authority series 1998 and 2002 revenue bonds issued on behalf of Centegra Health System (Centegra) at 'A-'. The Rating Outlook is Stable.

The affirmation reflects Centegra's continued market share dominance in a favorable service area and continued operating profitability. Centegra enjoys an inpatient market share of over 70% in its primary service area within McHenry County (approximately 60 miles northwest of Chicago), which has lead to sustained favorable operating performance over the past few years. Operating EBIDTA margin averaged 9.8% over the past five years, slightly below the 'A'...

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Source: Lab Law Weekly (2008-10-17)

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