On Dec. 3, 2012, Standard&Poor's Ratings Services raised its rating on the Illinois Finance Authority (formerly Illinois Development Finance Authority)'s (the issuer's) variable-rate demand multi-family housing revenue bonds series 1999 (for the Butterfield Creek Associates L.P. project) due April 1, 2039, to 'AA+/A-1+' from 'A/A-1' following the addition of a confirming letter of credit (CLOC) from Federal Home Loan Bank of Atlanta (FHLB Atlanta; 'AA+/A-1+'). The 'AA+/A-1+' rating reflects the higher of our rating on Bank of America N.A. ('A/A-1'), the fronting LOC (FLOC) provider, and our rating on FHLB Atlanta , the CLOC provider (collectively, the LOC providers). Under their respective LOCs, each bank fully supports repayment when the bonds are in the weekly or monthly interest
