S&P gives AAA/A-1+ to Resurrection Health, Ill., revenue bonds

Standard & Poor's said it assigned an AAA/A-1+ standard long-term rating to Illinois Finance Authority's $100 million refunding revenue bonds to be issued for Resurrection Health Care, a Catholic health care entity in Chicago.

The bonds are to be issued in two series of $50 million each, series 2008A and B.

The rating is based on letters of credit from LaSalle Bank NA and JPMorgan Chase Bank NA, both rated AA/A-1+ by S&P. S&P's underlying rating for Resurrection Health Care is BBB+.

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