TITLE

MIDSEST Bond-Watch

AUTHOR(S)
Shields, Yvette; Carvlin, Elizabeth
PUB. DATE
March 2003
SOURCE
Bond Buyer;3/19/2003, Vol. 343 Issue 31596, p27
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Presents information on bond market in the Middlewest. The Chicago Transit Authority (CTA) in Chicago, Illinois has received an A rating from ratings agency Standard & Poor's Corp. during the 3rd week of March 2003 on its 100 million dollar revenue bond sale, which will finance construction of a new headquarters building. Analysts attributed the rating to the CTA's role as the sole operator of public transportation in the city, a solid management team, and the agency's low debt burden. Last week it sold 280 million dollars of capital grant revenue bonds backed by federal funds it will receive in connection with the renovation of a train line. Efforts to lock the plan of a bill which would ensure expansion of O'Hare International Airport in Chicago into law, will now shift to the state capitol, where Chicago Mayor Richard Daley's allies are expected to push a bill that alters state law, stripping the incumbent governor of the ability to veto runway projects at the airport.
ACCESSION #
9387915

 

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