NEW YORK (Standard&Poor's) April 29, 2005--Standard&Poor's Ratings Services revised its rating outlook on Illinois Finance Authority's (Galesburg Towers project) $1.7 million housing revenue refunding bonds series 1994A to negative from stable. The outlook revision reflects the inability of the project's operating income to fully service the maximum annual debt service (MADS) requirement. The latest audited financial results for the fiscal year ended Oct. 31, 2004, indicate that the performance of the property improved marginally with debt service coverage of 0.83x MADS, up from 0.77x the prior year. For the fiscal year ended Oct 31, 2004, gross income declined marginally, which was offset by a 22% decline in maintenance and repair expenses. The average rent per unit
