OREANDA-NEWS. Fitch Ratings withdraws the 'AA/F1+' credit enhanced rating assigned to the following bonds:

--Chicago (IL) (Neighborhoods Alive 21 Program) general obligation variable-rate demand bonds series 2002B-3;
--Chicago (IL) (Neighborhoods Alive 21 Program) general obligation variable-rate demand bonds series 2002B-4;
--Chicago (IL) (Neighborhoods Alive 21 Program) general obligation variable-rate demand bonds series 2002B-5.

The long-term rating assigned to the bonds is revised to 'BBB+' with a Negative Outlook based on the underlying rating assigned by Fitch to Chicago's general obligation bonds.

The rating for the 2002B-3 bonds was based on the support of a letter of credit issued by Royal Bank of Canada that was previously terminated. The rating for the 2002B-4 and 2002B-5 bonds was based on the support of two separate letters of credit issued by Bank of New York Mellon (The) that were previously terminated.