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Cook County, Illinois; General Obligation Sep 11 Product Image

Cook County, Illinois; General Obligation Sep 11

  • ID: 1924568
  • September 2011
  • Region: Illinois
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Cook County, Ill.'s $148.5 million series 2011A general obligation (GO) refunding bonds, $241.5 million series 2011B taxable GO refunding bonds, and $125.0 million series 2011C taxable GO bonds. At the same time, Standard & Poor's assigned its 'SP-1+' rating to the county's $110.0 million series 2011D taxable GO corporate purpose notes. Finally, Standard & Poor's affirmed its 'AA' long-term and underlying ratings (SPUR) and 'AA/A-1' and 'AA/A-1+' ratings on the county's outstanding debt. The outlook on all ratings is stable. The long-term rating reflects our view of the county's: Taxing flexibility and recent budget balancing efforts under a newly-elected administration; Pension that is adequately funded but has lost ground...

Companies mentioned in this report are:
- Cook Cnty

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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