CHICAGO - Children's Memorial Hospital's plan to build a $1 billion replacement facility is advancing on two fronts this week, with Chicago City Council zoning approval expected today and the assignment of its first public rating in recent history, a AA-minus from Fitch Ratings.

Founded in 1882, the hospital had long considered plans to either renovate its current facility in the Lincoln Park neighborhood or build a new one to accommodate growing demand for its services and state-of-the-art equipment needs.

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