According to the S&P report, Provena owes roughly $1.1 million in tax payments for 2002. The ratings agency said Provena’s debt is stable at BBB+. It is not yet clear whether Provena will be required to pay taxes for the years following 2002, which could amount to $10 million, according to the S&P report cited by the Tribune.
The decision only applied to Urbana, Ill.-based Provena Covenant Medical Center’s property tax exemption. Provena’s other five hospitals were not affected by the ruling.
Read the Chicago Tribune story on Provena.
