S&P rates Illinois Toll Highway bonds AA-

Standard & Poor's said it assigned an AA- rating to Illinois State Toll Highway Authority's $766.2 million of series 2008A toll highway variable-rate senior-lien refunding revenue bonds.

Financial Securities Assurance Inc. is expected to insure the bonds. A liquidity facility is expected from Dexia Credit Local, with the bonds receiving a short-term rating based on bank liquidity.

At the same time, S&P affirmed its AA- rating and underlying rating on the authority's existing debt. The outlook is stable.

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