The rating on Illinois Development Finance Authority's bonds, issued on behalf of St. Patrick High School, is based on an irrevocable direct-pay LOC issued by American National Bank&Trust of Chicago. Bond proceeds will be used to finance, construct, rehabilitate, and start-up educational facilities for St. Patrick High School. The bonds are subject to optional and mandatory redemption. St. Patrick High School, an Illinois not-for-profit corporation, is an all-male, comprehensive Catholic high school located on the northwest side of Chicago.