—CHICAGO  Moody's Investors Service on Friday placed Illinois-based Proctor Hospital's speculative-grade B2 rating on review for upgrade due to its signing of an affiliation agreement with the stronger and larger Methodist Health Services Corp.

The action impacts $22.5 million of rated debt sold through the Illinois Finance Authority in 2006. Moody's previously had the rating on review for a downgrade due to a sharp decline in its cash and investments and ongoing operating losses.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.