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ILLINOIS DEVELOPMENT FINANCE AUTHORITY COMMERCIAL PAPER REVENUE NOTES RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Feb. 10 /PRNewswire/ -- The Illinois Development Finance Authority's $50 Million Commercial Paper Revenue Notes, Series 1993A, Medicaid Prompt Payment Program, are rated "F-1+" by Fitch. Goldman, Sachs & Co. will be issuing commercial paper for the IDFA during the first week in March.
 The program was established by the authority to accelerate the receipt of payment of Medicaid claims for certain Medicaid providers (excluding hospitals and nursing homes). The authority will sell commercial paper with proceeds used to purchase adjudicated claims at a discount from the participating providers on a non-recourse basis.
 The rating is supported by the high quality of the receivables purchased, a sound legal structure, and liquidity support from the Canadian Imperial Bank of Commerce, which is rated "F-1+" by Fitch. The availability of this bank line was critical to the rating.
 -0- 2/10/93
 /CONTACT: Frederic J. Martucci of Fitch, 212-908-0554/


CO: Illinois Development Finance Authority ST: Illinois IN: SU: RTG

TS -- NY044 -- 5125 02/10/93 11:47 EST
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Publication:PR Newswire
Date:Feb 10, 1993
Words:166
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/C O R R E C T I O N -- FITCH: ILLINOIS DEVELOPMENT FINANCE AUTHORITY/

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