Moody's rates Commonwealth Edison, Ill., bonds Aaa/VMIG1

Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to the Illinois Finance Authority's $50 million of pollution control revenue refunding bonds (Commonwealth Edison Co. project) series 2008D.

Sale of the bonds is expected on May 9.

The rating reflects a letter of credit from SunTrust Bank, which is rated Aa2/P-1. The Commonwealth Edison Co. has an underlying rating of Ba1.

Separately, Moody's said it assigned an Aaa/VMIG1 rating to the authority's $91 million of series 2008F bonds issued for Commonwealth Edison.

That rating reflects a letter of credit from JPMorgan Chase Bank, NA, which is rated Aa/P-1.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.