NorthShore-Edward-Elmhurst Health, IL Series 2022E, 2022F Revenue Bonds Assigned 'AA-' Rating

NEW YORK (S&P Global Ratings) March 21, 2022--S&P Global Ratings assigned its 'AA-' long-term rating to Illinois Finance Authority's $115 million series 2022E and $115 million series 2022F revenue bonds issued for NorthShore-Edward-Elmhurst Health, Ill. (NS-EEH). The outlook is stable. "The rating reflects NS-EEH's very strong balance sheet and our assessment of the system's integrated business model, with nine hospitals, a large employed physician group, and a significant outpatient presence in a demographically favorable service area that has expanded significantly following the merger of NorthShore and Edward-Elmhurst Health," said S&P Global Ratings credit analyst Anne Cosgrove. In addition, the system's focus on its ambulatory buildout has been successful and the system has benefited from some partnerships that have proven very

...March 21, 2022 NEW YORK (S&P Global Ratings) March 21, 2022--S&P Global Ratings assigned its '##-' long-term rating to Illinois Finance Authority's $115 million series 2022E and $115 million series 2022F revenue bonds issued for NorthShore-Edward-Elmhurst Health, Ill. (NS-EEH). The outlook is stable. "The rating reflects NS-EEH's very strong balance sheet and our assessment of the system's integrated business model, with nine hospitals, a large employed physician group, and a significant outpatient presence in a demographically favorable service area that has expanded significantly following the merger of NorthShore and Edward-Elmhurst Health," said S&P Global Ratings credit analyst Anne Cosgrove. In addition, the system's focus on its ambulatory buildout has been successful and the system has benefited from some partnerships that have proven very successful to date. Overall market share is stable despite the highly competitive service area. We view social risk as in line with that of the...

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