Illinois Finance Authority Bonds Series 2004A And 2004B (Sunshine Through Golf Foundation) Ratings Raised Apr 09
- ID: 1723539
- April 2009
- Region: Illinois
- Standard & Poors
NEW YORK (Standard & Poor's) April 21, 2009--Standard & Poor's Ratings Services today raised its ratings on Illinois Finance Authority's $2.1 million variable-rate demand revenue bonds series 2004A and $0.14 million taxable variable-rate demand revenue bonds series 2004B (Sunshine Through Golf Foundation project) to 'AA/A-1+' from 'A+/A-1'. Today's rating actions reflect the substitution of the letter of credit (LOC) provided by Bank of America N.A. ('A+/A-1') with a new fronting LOC provided by First American Bank (not rated) and a new confirming LOC provided by Federal Home Loan Bank of Chicago ('AA/A-1+'). The transaction's maturity date has been extended to May 1, 2030, from Nov. 1, 2024. The ratings are based on the credit and liquidity support provided by Federal...
Companies mentioned in this report are:
- Illinois Fin Auth
- Federal Home Loan Bank of Chicago
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