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.
- Special Report: Thailand secretly supplies Myanmar refugees to trafficking rings |
- UPDATE 2-China bars banks from bitcoin transactions
- Obama says he's not allowed iPhone for 'security reasons'
- The 10 Most Corrupt and Least Corrupt Countries in the World
- Ford launches new global Mustang to buoy brand, boost margins