An 'AA-/A-1+' rating has been assigned to Illinois Development Finance Authority's $24 million adjustable rate demand revenue bonds, issued on behalf of the Chicago Theater Group for the building of the Goodman Theater. The issue is scheduled to sell Jan. 19, 1999. The rating is based on an irrevocable direct pay LOC provided by The First National Bank of Chicago, The Northern Trust Co., and Harris Trust & Savings Bank. Initially, the bonds will bear interest at a weekly rate and can be converted to bear interest at the daily rate, fixed rate, an adjustable rate less than 365 days and an adjustable rate greater than 365 days. The bond trustee will draw on the LOC to pay regularly scheduled...
Companies mentioned in this report are:
- Illinois Finance Authority
- BMO Harris Bank National Assn.
- The Northern Trust Co.
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