Summary: Illinois Finance Authority; Joint Criteria - S&P Global Ratings’ Credit Research

Summary: Illinois Finance Authority; Joint Criteria

Summary: Illinois Finance Authority; Joint Criteria - S&P Global Ratings’ Credit Research
Summary: Illinois Finance Authority; Joint Criteria
Published Aug 24, 2007
553 words — Published Aug 24, 2007
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Abstract:

Standard&Poor's Services assigned its 'AAA/A-1+' rating to Illinois Finance Authority's bonds based on Standard&Poor's joint criteria. This transaction has two long-term independently rated sources of payment on the debt that are not codependent. Therefore, the two ratings were combined to float the rating to a higher level. In this issue, an LOC provided by Wachovia Bank N.A. (AA/A-1+) and OSF Healthcare System (A) back the transaction and are combined to achieve a long term rating of 'AAA'. The 'A-1+' rating was not changed and represents the LOC bank's short-term rating. The 'AAA' portion of the rating indicates the likelihood that debt service will be paid over the life of the issue while the 'A-1+' portion indicates

  
Brief Excerpt:

RESEARCH Summary: Illinois Finance Authority; Joint Criteria Publication date: 24-Aug-2007 Current Ratings >> Credit Profile US$30.9 mil var rt dem rev bnds (Osf Healthcare Sys) ser 2007 Long Term Rating ###/A-1+ New Ratings Detail...

  
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Summary

Issuer
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Global Issuers, Public Finance, Structured Finance
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Region
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Illinois Finance Authority; Joint Criteria" Aug 24, 2007. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Illinois-Finance-Authority-Joint-Criteria-597929>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Illinois Finance Authority; Joint Criteria Aug 24, 2007. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Illinois-Finance-Authority-Joint-Criteria-597929>
  
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