S&P Global Ratings upgraded its rating on Crystal Lake, Ill.-based Centegra Healthcare's series 2012 and 2014 bonds to "AA+" from "BB+."
The nine-notch upgrade is a result of Chicago-based Northwestern Medicine acquisition of Centegra Healthcare on Sept. 1. From now on, Centegra's bonds will carry the same rating and outlook as Northwestern.
Northwestern and Centegra aligned their debt structures and all outstanding bonds are now under the Northwestern master indenture.
The outlook is stable.