Illinois Finance Authority Bonds Series 1999 (Butterfield Creek) Rating Raised To 'AA+/A-1+' - S&P Global Ratings’ Credit Research

Illinois Finance Authority Bonds Series 1999 (Butterfield Creek) Rating Raised To 'AA+/A-1+'

Illinois Finance Authority Bonds Series 1999 (Butterfield Creek) Rating Raised To 'AA+/A-1+' - S&P Global Ratings’ Credit Research
Illinois Finance Authority Bonds Series 1999 (Butterfield Creek) Rating Raised To 'AA+/A-1+'
Published Dec 03, 2012
1328 words — Published Dec 03, 2012
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Abstract:

NEW YORK (Standard&Poor's) Dec. 3, 2012--Standard&Poor's Ratings Services today raised its rating on Illinois Finance Authority (formerly Illinois Development Finance Authority)'s $6.75 mil variable-rate demand multifamily housing revenue bonds series 1999 (for the Butterfield Creek Associates L.P. project) due April 1, 2039, to 'AA+/A-1+' from 'A/A-1' following the addition of a confirming letter of credit (CLOC) from Federal Home Loan Bank of Atlanta (FHLB Atlanta; 'AA+/A-1+'). The 'AA+/A-1+' rating reflects the higher of our rating on Bank of America N.A. ('A/A-1'), the fronting LOC (FLOC) provider, and our rating on FHLB Atlana, the CLOC provider. Under their respective LOCs, each bank fully supports repayment when the bonds are in the weekly or monthly interest rate reset

  
Brief Excerpt:

RESEARCH Illinois Finance Authority Bonds Series 1999 (Butterfield Creek) Rating Raised To '##+/A-1+' Publication date: 03-Dec-2012 Primary Credit Analyst: Tobin Joseph, New York (1) 212-438-1000; tobin_joseph@standardandpoors.com...

  
Report Type:

Ratings Action

Issuer
Illinois Finance Authority
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Illinois Finance Authority Bonds Series 1999 (Butterfield Creek) Rating Raised To 'AA+/A-1+'" Dec 03, 2012. Alacra Store. May 19, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Illinois-Finance-Authority-Bonds-Series-1999-Butterfield-Creek-Rating-Raised-To-AA-A-1-1044333>
  
APA:
S&P Global Ratings’ Credit Research. (). Illinois Finance Authority Bonds Series 1999 (Butterfield Creek) Rating Raised To 'AA+/A-1+' Dec 03, 2012. New York, NY: Alacra Store. Retrieved May 19, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Illinois-Finance-Authority-Bonds-Series-1999-Butterfield-Creek-Rating-Raised-To-AA-A-1-1044333>
  
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