Summary: Elgin, Illinois; General Obligation May 11

Standard & Poors, May 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to the City of Elgin, Ill.'s series 2011 general obligation (GO) corporate purpose bonds. At the same time, we affirmed our 'AA+' underlying rating (SPUR) on the city's previously issued GO debt. The outlook is stable. The ratings reflect our view of the city's: Participation in the deep and diverse Chicago metropolitan area economy and diverse employment opportunities, both within the city and in neighboring communities in the northwestern suburbs; Good income levels and strong market value per capita; Very strong reserves and strong financial management under our Financial Management Assessment (FMA) methodology; and Moderate overall debt burden. Partly offsetting the above strengths is our view of the city's above-average...

Companies mentioned in this report are:
- Elgin

Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Elgin

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