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
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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

Action: Upgraded

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- United States Govt Dept of Energy
- Illinois Fin Auth

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