November 28, 2017 / 6:43 PM / 18 days ago

BRIEF-‍Fitch Says Chicago's Securitization Program A Far Cry From Puerto Rico's COFINA​

Nov 28 (Reuters) - Fitch :

* ‍FITCH SAYS CHICAGO‘S SECURITIZATION PROGRAM A FAR CRY FROM PUERTO RICO‘S COFINA​

* ‍FITCH SAYS CHICAGO‘S SECURITIZATION PROGRAM “HAS DRAWN SOME INACCURATE COMPARISONS TO SPECIAL PURPOSE VEHICLE USED BY PUERTO RICO​”

* ‍FITCH SAYS CHICAGO‘S SALES TAX SECURITIZATION CORPORATION WILL LIKELY REDUCE BORROWING COSTS, LEAVING MORE NET REVENUES FOR USE IN CITY‘S OPERATIONS​

* ‍FITCH SAYS ‍AS TO WHETHER STRUCTURE OF CHICAGO‘S SALES TAX SECURITIZATION CORPORATION​ AFFECTS CHICAGO‘S CREDIT RATING, “THE SHORT ANSWER IS IT DOESN‘T”

* FITCH SAYS ‍FUTURE CORPORATION DEBT WILL LIKELY REPLACE GO DEBT RATHER THAN INCREASE OVERALL DEBT BURDEN FOR CHICAGO Source text for Eikon:

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