Standard&Poor's Ratings Services confirmed its 'AAA/A-1' rating on Illinois Finance Authority's (Bradley University) series 2008A and 2008B variable-rate demand revenue bonds, due to the bank facility being extended to April 5, 2016. The long-term component of the rating is based jointly on the ratings on the obligor, Bradley University, and the letter of credit provider, PNC Bank N.A. (assuming low correlation). The short-term component of the rating is based solely on the rating on the letter of credit provider, PNC Bank N.A. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009 USPF Criteria: Municipal Applications For Joint Support Criteria, June 25, 2007 Criteria: Joint Support Criteria Update, April 22, 2009
