Summary: Lombard Village, Illinois; General Obligation Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's Ratings Services lowered its issuer credit rating (ICR) on Lombard Village, Ill. to 'BBB' from 'AA', and the rating on the village's debt certificates to 'BBB-' from 'AA-'. The outlook on the ratings is stable. The downgrades reflect our view of the village board's vote in the last week of 2011 to reject a requested payment of $911,747.94 to cover a shortfall in the January 2012 debt service payment for the Lombard Public Facilities Corp.'s (LPFC) series 2005A hotel and conference center revenue bonds. Under terms of the tax rebate agreement, the village is committed to replenishing a $2 million reserve fund for the corporation's series 2005A first-tier bonds in the event that net project revenues and...

Companies mentioned in this report are: Lombard Vill,Lombard Pub Facs Corp.
Action: Downgraded
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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Lombard Vill,Lombard Pub Facs Corp.

Customers who bought this item also bought

• 2012 America's Neighborhoods-Zip Code 60148 for Lombard, IL report
• Higher Education Revenue Outlook, 2013 Edition
• MSME Policies adopted by Indian Government
• Vietnam and the Chinese Model. A Comparative Study of Nguyen and Ch'ing Civil Government in the First Half of the Nineteenth Century. Part No. 140
• China Road Construction Industry Report, 2010
• China Road Construction Industry Report, 2010
• Ecoliterate. How Educators Are Cultivating Emotional, Social, and Ecological Intelligence
• College and Career Ready. Helping All Students Succeed Beyond High School
• Charter Schools - Global Outlook
• India Defence and Security Report Q4 2010