S&P also lowered the long-term component of its rating for outstanding bonds from “AA/A-1” to “AA-/A-1.”
The downgrade is a result of Northshore’s weaker operating results over the last two years and its highly competitive service area. Moody’s also acknowledged NorthShore’s strong balance sheet and the system’s integrated business model in a demographically favorable service area.
The rating outlook is stable.
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