...NEW YORK (S&P Global Ratings) Feb. 26, 2019--S&P Global Ratings today assigned its ratings to Illinois Finance Authority adjustable-rate demand revenue bonds series 2019 (for the Steppenwolf Theatre Co. Project) due March 1, 2049 (see list). The '##-/A-1+' rating on the bonds reflects our rating on The Northern Trust Co. ('##-/A-1+'), the letter of credit (LOC) provider, during the daily and weekly interest rate modes (the rated modes). The '##-' long-term component of our rating reflects our long-term issuer credit rating on The Northern Trust Co. and addresses our expectation of full and timely interest and principal payments when the bondholders have not exercised the put option. The 'A-1+' short-term component of our rating reflects our short-term issuer credit rating on The Northern Trust Co. and addresses our expectation of full and timely interest and principal payments when the bondholders have exercised the put option. In view of the series 2019 bond structure, changes to our rating...
