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Goodman Theater Bonds Rated ?AA-/A-1+' Jan 99

  • ID: 1722061
  • January 1999
  • Standard & Poors
1 of 3

FEATURED COMPANIES

  • Chicago
  • Illinois Fin Auth
  • The Northern Trust Co.
  • MORE

Abstract
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:
- Chicago
- Illinois Fin Auth
- BMO Harris Bank National Assn.
- The Northern Trust Co.

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.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

Note: Product cover images may vary from those shown
2 of 3

- Chicago
- Illinois Fin Auth
- BMO Harris Bank National Assn.
- The Northern Trust Co.

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown

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