Fitch Ratings last week downgraded Resurrection Health Care one notch to BBB-plus due to operating losses.

The downgrade came as the Chicago-based system announced plans to sell two of its hospitals and ahead of Ressurection’s sale of $120 million of fixed-rate bonds through the Illinois Finance Authority to refund existing floating-rate debt ahead of the expiration of letters of credit that support the debt.

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.