Summary: Illinois Dev Fin Auth; Revenue - Housing, FHLMC Collateral Agreement - S&P Global Ratings’ Credit Research

Summary: Illinois Dev Fin Auth; Revenue - Housing, FHLMC Collateral Agreement

Summary: Illinois Dev Fin Auth; Revenue - Housing, FHLMC Collateral Agreement - S&P Global Ratings’ Credit Research
Summary: Illinois Dev Fin Auth; Revenue - Housing, FHLMC Collateral Agreement
Published Jun 04, 1999
Published Jun 04, 1999
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

The rating on Illinois Development Finance Authority's bonds reflects the substitution of Freddie Mac's direct pay credit enhancement for a letter of credit. This is a direct pay facility and will provide funds for the scheduled debt service payments, mandatory redemptions, and optional and mandatory tenders. The `AAA' portion represents the likelihood debt service payments will be made over the life of the issue. The `A-1+' represents the likelihood of payment due to mandatory and optional tenders. The bonds will remain in a variable-rate mode of interest unless converted to a different mode. Interest is payable on the first business day of each month. The bonds mature on August 1, 2018. Freddie Mac's direct pay credit enhancement is sized to

  
Report Type:

Summary

Issuer
Sector
Global Issuers, Public Finance, Structured Finance
Country
Region
Format:
PDF Adobe Acrobat
Buy Now

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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Illinois Dev Fin Auth; Revenue - Housing, FHLMC Collateral Agreement" Jun 04, 1999. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Illinois-Dev-Fin-Auth-Revenue-Housing-FHLMC-Collateral-Agreement-106685>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Illinois Dev Fin Auth; Revenue - Housing, FHLMC Collateral Agreement Jun 04, 1999. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Illinois-Dev-Fin-Auth-Revenue-Housing-FHLMC-Collateral-Agreement-106685>
  
US$ 225.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.