Fitch rates Edward Hospital's bonds

Fitch Ratings has assigned an "A+" rating on bonds issued by the Illinois Finance Authority on behalf of the Edward Hospital Obligated Group. The hospital's parent organization is Naperville, Ill.-based Edward-Elmhurst Health.

The "A+" rating was assigned to the following bonds:

  • $86.1 million series 2008A fixed rate revenue bonds
  • $49.7 million series 2008B-1 variable rate demand bonds
  • $49.7 million series 2008B-2 variable rate demand bonds
  • $9.7 million series 2008C variable rate demand bonds
  • $42.9 million series 2009A variable rate demand bonds

The bond rating was supported by a number of factors, including the hospital's strong and growing market presence, strong liquidity metrics and manageable debt burden.

The hospital's rating outlook is stable.

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