The downgrade is based on Fitch’s long-term rating assigned to the Bank of America, which issued a letter of credit securing the hospital’s bonds. The letter of credit is slated to expire Feb. 14, 2020, unless extended or terminated early.
The outlook is stable.
Elmhurst Memorial Healthcare merged with Edward (Ill.) Hospital in 2013 to form Edward-Elmhurst Health, located in Naperville, Ill.
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Fitch affirms ‘BB’ rating on Marietta Memorial Health System’s bonds
S&P assigns ‘AA-/A-+’ rating to Hospital Sisters Health System’s bonds
Moody’s affirms ‘Aa3’ rating on Partners HealthCare’s bonds
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