NEW YORK (Standard&Poor's) June 28, 2011--Standard&Poor's Ratings Services affirmed its 'A+/A-1' rating on the Illinois Finance Authority's $22 million variable-rate demand revenue bonds series 2005 (for the WBEZ Alliance Inc. project) due Oct. 1, 2040, following the replacement of the letter of credit (LOC) that Bank of America National Association ('A+/A-1') had provided with a new LOC from Harris National Association ('A+/A-1'). The 'A+/A-1' rating reflects our opinion of the credit and liquidity support that Harris National Association provides in the form of an irrevocable direct-pay LOC. Under the LOC, Harris National Association fully supports all bond payment obligations when the bonds are in the variable interest-rate reset mode. Therefore, our rating applies only during this
