Illinois Finance Authority Chicago Charter School Foundation; Charter Schools Jan 07
- ID: 1722848
- January 2007
- Region: Illinois
- Standard & Poors
The 'BBB' rating on Illinois Finance Authority's series 2007 charter school revenue project and refunding bonds, issued on behalf of the Chicago Charter School Foundation, reflects the following: Gross revenue pledge of the foundation; A solid framework for charter schools in Illinois, given legal and financial parameters; The foundation already successfully completed a charter renewal process; the charter was renewed in late 2001 for the five-year period through June 30, 2007; The charter covers multiple school sites and has a large current enrollment of 5,859 for the 2006-2007 school year. Actual student growth rates have been consistent with earlier projections and have reached levels required to provide adequate debt service coverage; Enrollment growth and demand has been demonstrated, with annually...
Companies mentioned in this report are:
- Chicago Charter Sch Foundn
- Illinois Fin Auth
Action: New Rating
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Research Type: Full Analysis