Fitch Ratings has assigned an "A+" rating on bonds issued by the Illinois Finance Authority on behalf of the Edward Hospital Obligated Group. The hospital's parent organization is Naperville, Ill.-based Edward-Elmhurst Health.
The "A+" rating was assigned to the following bonds:
- $86.1 million series 2008A fixed rate revenue bonds
- $49.7 million series 2008B-1 variable rate demand bonds
- $49.7 million series 2008B-2 variable rate demand bonds
- $9.7 million series 2008C variable rate demand bonds
- $42.9 million series 2009A variable rate demand bonds
The bond rating was supported by a number of factors, including the hospital's strong and growing market presence, strong liquidity metrics and manageable debt burden.
The hospital's rating outlook is stable.
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