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'AA' Rating Assigned To Illinois Regional Transportation Authority's $111 Million GO Refunding Bonds Jun 11
Standard & Poors, June 2011
Abstract
CHICAGO (Standard & Poor's) June 13, 2011-- Standard & Poor's Ratings Services assigned its 'AA' long-term to Illinois Regional Transportation Authority's $111 million series 2011A general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AA' long-term and underlying rating (SPUR) on the authority's outstanding debt. The outlook on all long-term debt is stable. Finally, Standard & Poor's affirmed its 'A-1+' short-term rating on the authority's series 2005B GO variable rate demand bonds (VRDBs). 'The rating reflects our view of the authority's good debt service coverage and participation in the large, strong, and diverse Chicago metropolitan-area economy,' said Standard & Poor's credit analyst Helen Samuelson. The series 2011A refunding bonds are being issued to refund outstanding...
Companies mentioned in this report are: Illinois Regl Transp Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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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