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Fitch Places Lake Forest Hospital (Illinois) Revs on Watch Positive

Wed. September 30, 2009; Posted: 06:00 PM
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CHICAGO, Sep 30, 2009 (BUSINESS WIRE) -- ZZHOJ | Quote | Chart | News | PowerRating -- Fitch Ratings places on Rating Watch Positive the following revenue bonds which are currently rated 'A' and issued on behalf of Lake Forest Hospital (LFH) by the Illinois Finance Authority:

--$49,600,000 series 2002A;

--$26,000,000 series 2003.

The rationale for the placement on Rating Watch Positive arises from the announcement by Lake Forest Hospital that it has signed an affiliation agreement with Northwestern Memorial HealthCare with the intent to form an integrated healthcare system. According to released information, Lake Forest Hospital will become a subsidiary of Northwestern Memorial HealthCare, the corporate parent of Northwestern Memorial Hospital (not rated by Fitch). Both entities expect to close the affiliation following the receipt of necessary federal and state approvals. The affiliation is expected to be complete within the next several months.

Fitch is currently conducting a review of Lake Forest Hospital's credit profile and expects to provide an update to its current rating within the coming weeks.

Located in Lake Forest, Illinois, about 30 miles north of Chicago, LFH is a 215-bed (195 acute care and 20 skilled nursing) community hospital with other ancillary facilities located throughout Lake County.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

SOURCE: Fitch Ratings

Fitch Ratings, Chicago 
Anthony A. Houston, 312-368-3180 
James LeBuhn, 312-368-2059 
or 
Media Relations: 
Cindy Stoller, 212-908-0526, New York 
Email: cindy.stoller@fitchratings.com
For full details for ZZHOJ click here.

    


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