The Illinois Housing Development Authority said its sale of $19 million of multifamily housing bonds would finance a 144-unit supportive housing development south of Chicago for seniors.

Ahead of the sale, Moody’s Investors Service assigned a Aaa to the bonds.

The rating was primarily based on the high-quality security provided by the Federal Housing Adminstration’s risk sharing credit enhancement for the mortgage loan, legal security features and cash-flow projections provided by the issuer.

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