Upgrade for Riverside Health of Illinois

Standard & Poor's raised its rating by one notch on Riverside Health System, Ill. to A-plus due to its leading market position and improved balance sheet.

The review comes ahead of the hospital's issuance of $32 million of debt through the Illinois Finance Authority. "The rating action reflects our view of RHS' solid operations for the past three fiscal years, improved liquidity, and continued leading market position," said analyst Brian Williamson.

The credit also benefits from the hospital's completion of a major capital project, which has helped to improve the balance sheet, and its continued strong operating margins.

Proceeds of the sale will help fund an expansion of its senior services division.

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Healthcare industry Illinois
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