CHICAGO - Fitch Ratings last week rated the Urbana, Ill.-based Carle Foundation's upcoming $250 million bond sale AA-minus and assigned an "evolving" outlook due to the uncertain outcome and the fiscal impact of its merger discussions with an affiliated physicians' group.

The rating review comes ahead of the foundation's plans to sell in February $250 million of revenue bonds through the Illinois Finance Authority to retire a $225 million bank loan that was tapped to defease last April its outstanding debt issued in 1998 and 2006. Another $25 million is for capital projects and to cover issuance costs.

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.