CUSIP 452024FR8
- ISIN: US452024FR82
- Entity Name: Illinois Municipal Electric Agency
- Sector: Municipal Agency
- Announcement Date: 22-Jan-2018
- Effective Date: 17-Jan-2018
- Issue Date: *****
- Maturity Date: 01-Feb-2021
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Rating Downgrade
- News: The Issuer of the bonds named above (the Bonds) related to the CUSIP number or numbers for which this filing is made entered into one or more undertakings (the Undertakings) to file notice of certain material/reportable events with respect to such securities as required by Rule 15c2-12 of the Securities Exchange Act of 1934 in connection with the issuance of such Bonds. Among the material/reportable events for which notice is required by the Undertakings is a change in the rating on the Bonds. The Bonds were insured by an insurance policy issued by, or held by, Financial Guaranty Insurance Company (FGIC). FGIC and National Public Finance Guarantee Corporation (NPFG) entered into a novation agreement, effective as of August 19, 2013, which replaced FGIC with NPFG as the primary insurer on covered policies as if NPFG originally insured the policies. Claims for payment must be made directly to NPFG, in accordance with the terms of the applicable insurance agreements. In accordance with the Undertakings, notice is hereby given to owners of the Bonds that Moodys Investors Service (Moodys) downgraded the credit rating of NPFG to Baa2 (Stable outlook) from A3 (Negative outlook) on January 17, 2018. Any explanation of the significance of such rating can only be obtained from Moodys. The Issuers underlying credit rating from Moodys is A1 (Stable outlook), which is higher than the insured credit rating of Baa2 (Stable Outlook). Therefore, the current credit rating for the Bonds is A1 (Stable Outlook). For Bond Document please visit www.BondPDF.com
- Description: Municipal Name: Illinois Municipal Electric Agency CUSIP: 452024FR8 Currency: USD Illinois Municipal Electric Agency announced today that the Moody’s Investors Service has downgraded the credit ratings of the Series 2007C, Power Supply System Revenue Refunding Bonds from A3 to Baa2 on January 17, 2018.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US452024FR82
