Moody's Investors Service has assigned an "Aa2" rating to Downers Grove, Ill.-based Advocate Health Care Network's proposed $100 million of series 2015 fixed rate revenue bonds to be issued by the Illinois Finance Authority.
The rating assignment was based on a number of factors, including Advocate's status as the largest health system in the greater Chicago area. The rating assignment was also supported by the system's consistent and adequate operating margins, very good debt coverage, strong balance sheet and well-funded pension plan.
The system's outlook is stable.
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