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Chicago Transit Authority, IL Series 2008A Bonds Rated 'A'; Other Ratings Affirmed Nov 08 Product Image

Chicago Transit Authority, IL Series 2008A Bonds Rated 'A'; Other Ratings Affirmed Nov 08

  • ID: 2033037
  • November 2008
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Nov. 12, 2008--Standard & Poor's Ratings Services has assigned its 'A' rating to the Chicago Transit Authority?s (CTA or the authority) $175 million capital grant receipts revenue bonds, series 2008A (Federal Transit Administration [FTA] section 5309 fixed guideway modernization formula funds). At the same time, Standard & Poor's affirmed the ratings on the authority's $150 million capital grants receipts revenue bonds, which section 5309 formula funds secure. Standard & Poor's also affirmed the rating on the authority's $585 million FTA section 5307 urbanized area formula funds outstanding. These bonds are secured by section 5307 formula funds. The outlook for both the 5309 and 5307 bonds is stable. "The ratings reflect the essential nature of the...

Companies mentioned in this report are: Chicago Transit 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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Chicago Transit Auth

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