Fitch gives AA-/F1+ to Hospital Sisters Services Ill. and Wis. bonds

Fitch Ratings said it assigned an AA-/F1+ rating to Hospital Sisters Services, Inc.'s expected issuance of $124.8 million of Illinois Finance Authority series 2008A and $20.2 million of Wisconsin Health and Educational Facilities Authority series 2008B revenue bonds. The outlook is stable.

In addition, Fitch assigned an F1+ rating to the $69.8 million Wisconsin Health and Educational Facilities Authority series 2003B revenue bonds outstanding and affirmed its AA- ratings on Hospital Sisters Services' approximately $580.5 million of outstanding debt.

The series 2008A and B bonds are expected to be issued as variable-rate bonds in a commercial paper mode and are expected to settle the week of June 16 via negotiated sale.

Proceeds will be used to refund Hospital Sisters Services' outstanding series 1998A bonds issued through the Illinois Health Facilities Authority and its outstanding series 1998B issued through the Wisconsin Health and Educational Facilities Authority, and pay associated costs of issuance.

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