Standard & Poor’s late last week said Provena Hospitals’ BBB-plus rating would not be affected by the Illinois Supreme Court decision upholding a ruling that cost Provena Covenant Medical Center its property tax exemption because it failed to provide sufficient charity care.

“Although the ruling sets an important precedent that could affect other health care systems and hospitals in Illinois, as well as nationwide if adopted elsewhere, we believe Provena’s balance sheet provides sufficient cushion against the need to pay its tax liability,” analysts wrote. “However, we will monitor Provena’s financial profile and the ultimate payments Provena will need to make under this ruling.”

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