July 16 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.