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Summary: Illinois Finance Authority Provena Health System; Letter of Credit Sep 10 Product Image

Summary: Illinois Finance Authority Provena Health System; Letter of Credit Sep 10

  • ID: 1723938
  • September 2010
  • Region: Illinois
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA-/A-1+' and 'A+/A-1' ratings to Illinois Finance Authority's (Provena Health System) variable-rate demand revenue bonds series 2010C and 2010D, respectively. Each bond is supported by its own letter of credit (LOC), and the bonds are not cross collateralized. The series 2010C bonds are backed by an LOC from JP Morgan Chase Bank N.A. (AA-/A-1+). The series 2010D bonds are backed by an LOC from Union Bank N.A. (A+/A-1). The LOC from JP Morgan Chase Bank N.A. is sized at 42 days' interest calculated at the maximum rate of 12% on the bonds. The LOC from Union Bank N.A. is sized at 44 days' interest calculated at the maximum rate of 12% on the...

Companies mentioned in this report are:
- Illinois Fin Auth

Action: New Rating

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- Illinois Fin Auth

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