Fitch assigns AA-/F1+ to Chicago Symphony bonds

Fitch Ratings said it assigned an AA-/F1+ rating to the $83.015 million Illinois Finance Authority adjustable-rate demand revenue bonds, Chicago Symphony Orchestra, series 2008.

The rating is based on an irrevocable, direct-pay letter of credit issued by RBS Citizens NA supporting the bonds.

The bonds are expected to be delivered around May 29.

Bond proceeds will be used to refinance a line of credit and pay for or reimburse costs relating to the conversion of the interest rate mode on previously issued revenue refunding.

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