NEW YORK - Moody's Investors Service said it has assigned Aa2 ratings to Advocate Health Care Network's $237 million of Series 2010A,B,C&D fixed rate bonds to be issued by the Illinois Finance Authority. The rating outlook remains stable, and upgraded the ratings on outstanding debt to Aa2 and Aa2/VMIG1 from Aa3 and Aa3/VMIG1, respectively, affecting approximately $900 million of debt.
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The rating upgrade is based on several years of improved operating margins, a long track record of effectively addressing operating challenges, and a consistently conservative approach to debt and investment management, resulting in very strong debt measures.
