...May 13, 2024 NEW YORK (S&P Global Ratings) May 13, 2024--S&P Global Ratings assigned its '##-' rating to Illinois Finance Authority's $291 million revenue refunding bonds series 2024A, issued for Endeavor Health, Ill. S&P Global Ratings also affirmed its '##-' long-term rating on debt outstanding issued for Endeavor Health, as well as its '##-/A-1' rating on bonds issued for Endeavor. The short-term component of the rating reflects standby bond purchase agreements with JPMorgan Chase Bank N.A. The outlook is stable. Bond proceeds will refund the series 2022E, 2022F, 2022G, and 2022H bonds for savings, to mitigate interest rate volatility, and to simplify the capital structure. We will withdraw the series 2022E and 2022F ratings once the new debt is issued. All interest rate swaps are anticipated to be terminated as part of the plan of finance. "The rating reflects Endeavor's strong balance sheet and our assessment of the system's integrated business model, with nine hospitals, a large employed...
