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Fitch Ratings
Fitch Rates Swedish Covenant Hospital (Illinois) at 'A-'; Outlook Stable
April 19th, 2008
Fitch Ratings has assigned an underlying rating of 'A-' to the approximately $102 million Illinois Finance Authority (Swedish Covenant Hospital) refunding variable rate demand revenue bonds, series 2008A and 2008B. The series 2008A bonds will be secured by a Bank of America, N.A., direct pay letter of credit. Fitch assigned ratings of 'AA/F1+' to the series 2008A bonds on March 26, 2008 based on bank support (press release available at www.fitchratings.com). The series 2008B bonds are also expected to be enhanced by a direct pay letter of credit and will be rated by Fitch based on bank support closer to their sale date. The series 2008A bonds are expected to sell via negotiation the week...
Source: Law & Health Weekly (2008-04-19)
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