Summary: Illinois Educational Facilities Authority, Illinois Finance Authority, Columbia College; Joint Criteria; Private Coll/Univ - General Obligation Apr 11

Standard & Poors, April 2011

Abstract
Standard & Poor's Ratings Services assigned its 'BBB+ long-term rating to Illinois Finance Authority's series 2011 revenue refunding bonds issued on behalf of Columbia College. At the same time, Standard & Poor's affirmed its 'BBB+' long-term and underlying ratings (SPURs) on the college's various other outstanding revenue bonds, which were issued on its behalf by the authority and the Illinois Educational Facilities Authority. Finally, Standard & Poor's affirmed its 'AA+/A-1' rating on Columbia's series 2000 adjustable-rate revenue demand bonds, issued by the Illinois Educational Facilities Authority, based on the application of criteria for joint support. The outlook on all ratings is stable. The 'BBB+' ratings reflect our view of Columbia's: History of solidly positive operating performance with margins ranging from...

Companies mentioned in this report are:
- Columbia Coll
- Illinois Educl Fac Auth
- Illinois Fin Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Columbia Coll
- Illinois Educl Fac Auth
- Illinois Fin Auth

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