S&P gives AA/A-1+ to Advocate Health, Ill., bonds

Standard & Poor's said it assigned an AA/A-1+ rating to Illinois Finance Authority's $122.45 million of series B1 to 5 and $348.3 million of series C-1, C-2A, C-2B, C-3A and C-3B variable-rate demand bonds, all issued for Advocate Health Network.

The short-term ratings on the bonds reflect standby bond purchase agreements from various financial institutions.

At the same time, S&P said it affirmed the AA/A-1+ rating on the authority's $153.43 million of series 2008A-1 to 3 bonds and $68.89 million of series 2003A and 2003C bonds previously issued for Advocate.

S&P also said it affirmed the AA long-term rating and AA- underlying rating on various series of health care revenue and refunding bonds issued by the authority for Advocate.

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