Ann&Robert H. Lurie Children's Hospital of Chicago Revenue Bond Rating Outlook Revised To Negative

CHICAGO (S&P Global Ratings) Oct. 17, 2024--S&P Global Ratings revised the outlook to negative from stable and affirmed its 'AA-' long-term rating on the Illinois Finance Authority's revenue bonds outstanding issued for the Ann&Robert H. Lurie Children's Hospital of Chicago (Lurie Children's). Children's Hospital of Chicago Medical Center is the parent organization for the system, and we refer to the combined system in this report as Lurie Children's. "The outlook revision reflects our expectations for Lurie Children's potentially reduced cash flow following multiple years of operating losses followed by a challenging 2023 and 2024, with the latter year's performance mostly related to a cyber security event in early February," said S&P Global Ratings credit analyst Suzie Desai.

...October 17, 2024 CHICAGO (S&P Global Ratings) Oct. 17, 2024--S&P Global Ratings revised the outlook to negative from stable and affirmed its '##-' long-term rating on the Illinois Finance Authority's revenue bonds outstanding issued for the Ann & Robert H. Lurie Children's Hospital of Chicago (Lurie Children's). Children's Hospital of Chicago Medical Center is the parent organization for the system, and we refer to the combined system in this report as Lurie Children's. "The outlook revision reflects our expectations for Lurie Children's potentially reduced cash flow following multiple years of operating losses followed by a challenging 2023 and 2024, with the latter year's performance mostly related to a cyber security event in early February," said S&P Global Ratings credit analyst Suzie Desai....

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