Fitch Continues to Monitor West Suburban Med Center & Resurrection Health Care, IL.Business Editors NEW YORK--(BUSINESS WIRE)--March 11, 2004 The acquisition of West Suburban Hospital Medical Center (West Suburban) by Resurrection Health Care has been finalized See finalization. as of yesterday according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. West Suburban. Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. maintains the 'BBB+' rating and the Rating Watch Evolving status on West Suburban's bonds. Additionally, Fitch maintains the 'AA-' rating and the Negative Rating Outlook on Resurrection Health Care's bonds. Fitch will review the respective ratings upon further detail of the acquisition including debt restructuring Debt Restructuring A method used by companies with outstanding debt obligations to alter the terms of the debt agreements in order to achieve some advantage. Notes: plans. West Suburban currently has approximately $29 million of fixed-rate debt (series 1999A) and $46 million of variable-rate demand bonds (series 1999B) and a portion of the debt may be assumed by Resurrection Health Care and a portion may remain West Suburban's sole obligation. |
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