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Summary: Illinois; General Obligation Jan 12

  • ID: 2039329
  • January 2012
  • Region: Illinois
  • Standard & Poors
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Abstract
Standard & Poor's Ratings Services assigned its 'A+' rating, and negative outlook, to the state of Illinois' $525 million series A general obligation (GO) bonds of January 2012 and $275 million series B taxable GO bonds of January 2012. At the same, Standard & Poor's affirmed its 'A+' rating, with a negative outlook, on the parity debt outstanding. We understand that proceeds from the series 2012 bond issues will fund the state's capital program. Key factors supporting the 'A+' ratings include what we view as Illinois': Deep and diverse economy, which is anchored by the Chicago metropolitan statistical area; Above-average income levels; Almost unlimited ability to raise taxes and other revenues due to its sovereign powers and the absence of...

Companies mentioned in this report are:
- Illinois

Action: Affirmed
Action: New Rating
Action: Outlook: Negative

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 READ MORE >

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- - Illinois

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