S&P rates Chicago O'Hare International Airport bonds BBB
July 16 (Reuters) - Standard & Poor's Ratings Services on Tuesday assigned a triple-B rating to Chicago, Illinois' customer facility charge (CFC) senior-lien revenue bonds issued for O'Hare International Airport.
S&P also assigned its triple-B rating to Chicago's Transportation Infrastructure Finance and Innovation Act subordinate loan issued for the airport.
The outlook is stable.
"Credit concerns include our opinion of the narrow pledged revenue stream securing the bonds; a high debt load compared with other similar projects; and an $8.00 CFC level, which we consider to be high relative to those at other airports and could limit upward rate flexibility," S&P said.
- Mexican train derails, stranding 1,300 migrants headed toward U.S.
- Israeli strikes kill more Palestinians; rocket causes huge blaze in Israel |
- Four servicemen, five miners killed in eastern Ukraine |
- Obama tells Israel U.S. ready to help end hostilities
- Man suspected of shooting six dead in Texas to appear in court