Fitch Ratings has downgraded Elmhurst Memorial Healthcare's rating one level to BBB-plus and warned of impending further negative action by placing it on rating watch negative, due to the Illinois hospital's financial performance.

The action affects $126.7 million of 2002 debt, $120.3 million of 2008 bonds and the underlying rating of $250 million of variable-rate 2008 bonds that were issued in four series and are supported by bank letters of credit.

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