KBRA Assigns Long-Term Rating of AA+ and Stable Outlook to State of Illinois Build Illinois Bonds (Sales Tax Revenue Bonds), Junior Obligation Series of October 2018
NEW YORK--(BUSINESS WIRE)--Sep 28, 2018--Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AA+ and Stable Outlook to the State of Illinois’s Build Illinois Bonds (Sales Tax Revenue Bonds) Junior Obligation Tax-Exempt Series A of October 2018, Junior Obligation Tax-Exempt Series B of October 2018, and Junior Obligation Taxable Series C of October 2018. KBRA long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.
The rating actions are based on KBRA’s and the following five key rating determinants identified therein:Legal Framework Nature of Special Tax Revenues Economic Base and Demographics Revenue Analysis Coverage and Bond Structure
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
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CONTACT: Kroll Bond Rating Agency
Harvey Zachem, 646-731-2385
Patricia McGuigan, 646-731-3350
Peter Scherer, 646-731-2325
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE
SOURCE: Kroll Bond Rating Agency
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PUB: 09/28/2018 06:02 PM/DISC: 09/28/2018 06:02 PM