The long-term rating on Illinois Development Finance Authority's bonds, issued for St. George Corp. (doing business as Palos Community Hospital), is based on: Excellent management; Strong service area economic and demographic trends, which contribute to growing patient volumes; and Very strong financial performance with minimal leverage and liquidity substantially in excess of debt. The short-term ratings for the series 1994A and 1998 bonds are based on standby purchase and credit agreements provided as liquidity facilities by The First National Bank of Chicago to cover the purchase price of unremarketed tendered bonds. Both issues bear interest at a variable rate and are subject to optional and mandatory tenders. Palos Community Hospital's favorable location in an affluent suburb south of Chicago enables
