Summary: McLean County Community Unit School District No. 7 (Lexington), Illinois; General Obligation

Standard & Poors, January 2011

Abstract
Standard & Poor's Ratings Services lowered its underlying rating (SPUR) to 'A+' from 'AA-' on McLean County Community Unit School District No. 7 (Lexington), Ill.'s previously issued general obligation (GO) debt. We also assigned our 'A+' long-term rating to the district's series 2011A taxable GO school bonds and series 2011B GO school bonds. The outlook on all of the ratings is stable. The downgrade reflects the district's recent and projected use of reserves as well as its continued reliance on its working cash fund and working cash fund bonds to make up for general fund (combined educational and operations and maintenance, or O&M, funds) shortfalls. The 'A+' ratings reflect the district's: Access to the strong and diverse Bloomington-Normal, Ill., local

Article Type:SUMMARY
Companies mentioned in this report are: McLean Cnty Comnty Unit Sch Dist #7 (Lexington)
Action: Downgraded
Action: New Rating
Action: Outlook: Stable

McLean Cnty Comnty Unit Sch Dist #7 (Lexington)

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