Moody's Downgrades to A1 Chicago Horticultural Society's LOC-backed Adj. Rate Bonds, Ser. 2008; Affirms VMIG 1
New York, December 28, 2016-- Moody's Investors Service has downgraded the long-term rating to A1 from Aa3 and affirmed the short-term VMIG 1 rating of the letter of credit- backed Illinois Finance Authority Adjustable Rate Demand Revenue Bonds, Series 2008 in connection with the substitution of the existing LOC supporting the Bonds provided by the Northern Trust Company with an LOC provided by BMO Harris Bank N.A. effective December 28, 2016.. The ratings are based upon the...
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