CHICAGO – Standard & Poor’s boosted Memorial Group Inc. of Illinois to investment grade thanks to support provided by the stronger rated BJC Healthcare system.
In a report Jan. 7, the rating agency raised Belleville-based Memorial Group’s rating to AA from BB-plus on its 2013 bonds issued through the Southwestern Illinois Development Authority.
"The rating action reflects our view of BJC Healthcare's guarantee of full and timely payment of the debt," said Standard & Poor's credit analyst Brian Williamson.
The stable outlook reflects BJC's good debt service coverage, solid balance sheet, and leading position in the greater St. Louis metropolitan statistical area, analysts said. The two formed a strategic alliance last year.
