Moody's rates Illinois Toll Highway bonds Aaa/VMIG 1

Moody's Investors Service said it assigned an Aaa/VMIG 1 rating to $766.2 million of the Illinois State Toll Highway Authority's toll highway variable-rate senior refunding revenue bonds, consisting of $383.1 million of series A-1 bonds and $383.1 million of series A-2 bonds.

The long-term portion of the rating is based on a financial guaranty insurance policy provided by Financial Security Assurance, Inc. The short-term portion of the rating is based on a standby bond purchase agreement provided by Dexia Credit Local.

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