Aug 22 Standard & Poor's Ratings Services on
Thursday raised Illinois Housing Development Authority's the
issuer credit rating to AA-minus from A-plus citing the
authority's financial strength.
S&P revised the outlook on the ICR to stable from positive
while the outlook on the outstanding debt remained at stable.
The ratings agency cited the authority's leverage ratios
when compared to equally-rated peers, reduction in interest
expenses, strong financial management practices and improvement
of overall asset quality.
In addition, S&P affirmed its double-A long-term and
underlying ratings on the authority's outstanding single-family
Homeowner Mortgage Revenue Bonds program and multifamily Housing
Bonds program bonds.