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Summary: Illinois Dev Fin Auth; Public Finance Structured, Letter of Credit

Published Jun 05, 2001

341 words — Published Jun 05, 2001

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Abstract:

The rating affirmation on Illinois Development Finance Authority's bonds is due to the extension of the LOC. The extended LOC is a several, not joint, obligation between Northern Trust (AA-/A-1+) and Bank One N.A. (A+/A-1) where the commitment amount is 25% and 75%, respectively. Based upon this extension, Harris Trust&Savings Bank (AA-/A-1+) and LaSalle Bank N.A. (AA-/A-1+) are no longer providing credit or liquidity support. The anticipated expiration date of the extended LOC is June 4, 2004.

Brief Excerpt:

RESEARCH Summary: Illinois Dev Fin Auth; Public Finance Structured, Letter of Credit Publication date: 05-Jun-2001 Credit Profile AFFIRMED $50,000 Illinois Dev Fin Auth (Museum of Contemporary Art Proj) var rate dem ser 94 A+/A-1 Rationale...

Report Type:

Summary

Issuer

Illinois Finance Authority

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

PDF

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Illinois Dev Fin Auth; Public Finance Structured, Letter of Credit" Jun 05, 2001. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Illinois-Dev-Fin-Auth-Public-Finance-Structured-Letter-of-Credit-196654>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Illinois Dev Fin Auth; Public Finance Structured, Letter of Credit Jun 05, 2001. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Illinois-Dev-Fin-Auth-Public-Finance-Structured-Letter-of-Credit-196654>

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