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Fitch Upgrades IL Housing Development Auth's GO Pledge Rating to 'AA-'; Assigns Stable Outlook

By Implode-Explode Heavy Industries

"Fitch Ratings upgrades Illinois Housing Development Authority's (IHDA) general obligation (GO) debt pledge rating to 'AA-' from 'A+'. The rating, while not assigned to any specific class of debt, represents an overall credit assessment of the authority's ability to meet its GO pledge requirements. In addition, as detailed in the special report 'State HFA Outlook for 2009' (dated May 4, 2009, and available on Fitch's web site at 'www.fitchratings.com'), Fitch is now assigning Outlooks to its tax-exempt housing ratings. Fitch today assigns a Stable Rating Outlook to IHDA's 'AA-' GO rating ."

Full post as published by Mortgage Lender Implode-o-Meter on December 17, 2009 (boomark / email).