Report title: Summary: Illinois Finance Authority Delnor-Community Hospital; Hospital; Joint Criteria
from S&P Credit Research
1954 word report published Nov 06, 2009

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Abstract: Standard&Poor's Ratings Services lowered its joint criteria rating to 'AA+/A-2' from its 'AAA/A-1+' on Illinois Finance Authority's (Delnor-Community Hospital) series 2008A variable-rate demand revenue refunding bonds that were issued to refinance the series 2006 auction-rate bonds due to the downgrade of the letter-of-credit (LOC) provider. This action is based on Standard&Poor's application of joint criteria assuming low correlation between Delnor-Community Hospital ('A') and the LOC provider, Fifth Third Bank ('BBB+/A-2'). The 'A-2' short-term component of the rating reflects the short-term rating on the LOC provider. Fifth Third Bank's rating was lowered on June 17, 2009. The expected expiration date of the LOC is June 4, 2011, unless otherwise terminated or extended according to its terms. Standard

Brief Excerpt: RESEARCH Ratings Definitions Summary: Illinois Finance Authority Delnor-Community Hospital; Hospital; Joint Criteria Publication date: 06-Nov-2009 Primary Credit Analyst: Antionette W Maxwell, Chicago (1) 312-233-7016; antionette_maxwell@standardandpoor...

Report Type: Summary
Issuer: Delnor Comnty Hosp
Sector: Global Issuers, Public Finance, Structured Finance
Country: United States
Region: United States
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