Fitch Ratings has assigned an "AA" rating to $100 million of series 2015 bonds to be issued on behalf of Downers Grove, Ill.-based Advocate Health Care by the Illinois Finance Authority.
The series 2015 bonds are expected to be fixed rate, and finance, refinance or reimburse Advocate for prior capital expenditures, as well as pay costs of issuance, according to Fitch.
The bond rating was based on a number of factors, including Advocate's ample liquidity and solid market position. Advocate maintains a leading position with its six-county Chicago metropolitan service area that is nearly double its nearest competitors.
Advocate's challenges, such as operating in a highly competitive service area, were also considered for the rating assignment,
The system's outlook is stable.
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