S&P downgrades NorthShore University Health System's rating to 'AA-'

S&P Global Ratings lowered its rating for Evanston, Ill.-based NorthShore University Health System's revenue refunding bonds to "AA-" from "AA."

S&P also lowered the long-term component of its  rating for outstanding bonds from "AA/A-1" to "AA-/A-1."

The downgrade is a result of  Northshore's weaker operating results over the last two years and its highly competitive service area. Moody's also acknowledged  NorthShore's strong balance sheet and the system's integrated business model in a demographically favorable service area.

The rating outlook is stable.

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