NEW YORK (Standard&Poor's) April 21, 2009--Standard&Poor's Ratings Services today raised its ratings on Illinois Finance Authority's $2.1 million variable-rate demand revenue bonds series 2004A and $0.14 million taxable variable-rate demand revenue bonds series 2004B (Sunshine Through Golf Foundation project) to 'AA/A-1+' from 'A+/A-1'. Today's rating actions reflect the substitution of the letter of credit (LOC) provided by Bank of America N.A. ('A+/A-1') with a new fronting LOC provided by First American Bank (not rated) and a new confirming LOC provided by Federal Home Loan Bank of Chicago ('AA/A-1+'). The transaction's maturity date has been extended to May 1, 2030, from Nov. 1, 2024. The ratings are based on the credit and liquidity support provided by Federal
