S&P lifts Swedish Covenant, Ill., outlook to positive

Standard & Poor's said it revised the outlook to positive from stable on Swedish Covenant Hospital, Ill.

At the same time, S&P said it assigned an AA+/A-1+ rating to Illinois Finance Authority's $60 million of series 2008A variable-rate demand revenue refunding bonds (Swedish Covenant Hospital).

The short-term rating is based on a direct-pay letter of credit provided by LaSalle Bank NA, which is rated AA+/A-1+.

S&P also said it affirmed the BBB+ issuer credit rating on the hospital.

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