Illinois Finance Authority Series 2007 Lease Revenue Bond Rating Raised To 'A+' From 'A' On Completion Of DOE Project May 10
- ID: 1723847
- May 2010
- Region: Illinois
- Standard & Poors
CHICAGO (Standard & Poor's) May 20, 2010--Standard & Poor's Ratings Services has raised its underlying rating (SPUR) on Illinois Finance Authority's taxable lease revenue bonds series 2007 to 'A+' from 'A'. "The upgrade is due to the completion of the project, which eliminates construction risk," said Standard & Poor's credit analyst John Kenward. Bond proceeds were used to construct and equip a research and office building for supercomputer research at the U.S. Department of Energy's (DOE) Argonne National Laboratory in the southwestern suburbs of Chicago. The project was occupied in July 2009 and substantially completed in September 2009. The bonds are secured by rental consideration payments made by UChicago Argonne LLC as lessee under a facilities use agreement with Theory...
Companies mentioned in this report are:
- United States Govt Dept of Energy
- Illinois Fin Auth
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