The two rating agencies differ on how the authority's creditworthiness is related to that of the Chicago Board of Education, a weaker credit with projected revenue shortfalls of as much as $640 million by 1994. The board's $75 million of outstanding GO debt is rated Baa by Moody's and BBB by Standard & Poor's Corp. Todd Whitestone, a senior vice president at Standard & Poor's Corp., said the rating agency does not make any linkage between the two credits because the authority has its own unlimited property tax levy that is distinct and separate from the board's revenue sources. Moody's, however, takes into consideration the status of the board when rating the authority, according to Paul Devine, a vice president and Great Lakes Region manager at the firm. "The two are inextricably linked," Mr. Devine said. "The credit of the board of education is integral to the credit of the School Finance Authority."