Illinois Development Finance Authority Bonds Series 2002 (Katlaw Tretam) Rating Raised To 'AA-/A-1+'

NEW YORK (Standard&Poor's) Aug. 2, 2010--Standard&Poor's Ratings Services today raised its rating on Illinois Development Finance Authority's $4.7 million variable-rate demand industrial development revenue bonds series 2002 (for the Katlaw Tretam&Co. LLC project) due Aug. 1, 2027, to 'AA-/A-1+' from 'A+/A-1'. The 'AA-' long-term component of our rating on the series 2002 bonds is based on our long-term issuer credit rating on JPMorgan Chase Bank N.A. ('AA-'), and addresses the full and timely payment of regularly scheduled interest and principal according to the transaction's terms. The 'A-1+' short-term component of our rating on the bonds is based on our short-term issuer credit rating on JPMorgan Chase Bank ('A-1+'), and addresses the full and timely

...NEW YORK (Standard & Poor's) Aug. 2, 2010--Standard & Poor's Ratings Services today raised its rating on Illinois Development Finance Authority's $4.7 million variable-rate demand industrial development revenue bonds series 2002 (for the Katlaw Tretam & Co. LLC project) due Aug. 1, 2027, to '##-/A-1+' from 'A+/A-1'. The '##-' long-term component of our rating on the series 2002 bonds is based on our long-term issuer credit rating on JPMorgan Chase Bank N.A. ('##-'), and addresses the full and timely payment of regularly scheduled interest and principal according to the transaction's terms. The 'A-1+' short-term component of our rating on the bonds is based on our short-term issuer credit rating on JPMorgan Chase Bank ('A-1+'), and addresses the full and timely payment of the bonds' purchase price upon a tender according to the transaction's terms. The series 2002 bonds are supported by a letter of credit (LOC) issued by JPMorgan Chase Bank. Today's rating action reflects the substitution...

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