NEW YORK (Standard&Poor's CreditWire) March 30, 1999--Standard&Poor's today affirmed its triple-'B' rating on Illinois Development Finance Authority's $25.10 million revenue bonds, issued for Community Living Options/Frances House, and revised the outlook to stable from positive. The outlook revision reflects a decreasing revenue base from discontinued operations and loans to other not for profit corporations. The rating reflects: -- A strong financial performance, -- A dominant role in the provision of residential services to the developmentally disabled, and -- Strong management. Offsetting concerns include strong dependence on state funding formulas, lack of revenue diversification, and transfer of profitable operations to other not for profit corporations . Community Living Options and Frances House are two separate nonprofit organizations
