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Summary: Illinois Finance Authority The University of Chicago Medical Center; Letter of Credit May 11 Product Image

Summary: Illinois Finance Authority The University of Chicago Medical Center; Letter of Credit May 11

  • ID: 1793348
  • May 2011
  • Region: Illinois
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A+/A-1' rating to the Illinois Finance Authority's variable-rate demand revenue bonds, series 2011A, based on an irrevocable direct-pay letter of credit (LOC) provided by Bank of America N.A. (A+/A-1). Standard & Poor's also assigned its 'AA/A-1+' rating to the authority's variable-rate demand revenue bonds, series 2011B, based on an irrevocable direct-pay LOC provided by Wells Fargo Bank National Assn. (AA/A-1+). Both LOCs were issued for The University of Chicago Medical Center. Both LOCs are scheduled to become effective on May 20, 2011, and expire on May 20, 2016, unless terminated earlier pursuant to their respective terms. The Bank of America LOC is sized at principal plus 45 days' interest, calculated with a maximum...

Companies mentioned in this report are:
- University of Chicago Med Ctr
- Illinois Fin Auth

Action: New Rating

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 READ MORE >

- University of Chicago Med Ctr
- Illinois Fin Auth

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