Chicago Board of Education, IL Outlook Revised To Stable From Negative As Cost Cuts Help Budget Sep 11
- ID: 1927330
- September 2011
- Standard & Poors
CHICAGO (Standard & Poor's) Sept. 29, 2011--Standard & Poor's Ratings Services said it revised to stable from negative the outlook on Chicago Board of Education, Ill.'s general obligation (GO) bonds and affirmed the 'AA-' ratings. We also assigned a 'AA-' rating to the board's series 2011A unlimited-tax GO bonds. "The outlook revision reflects the cost reduction measures and other steps taken by the board and its new management team that helped improve the general fund balance in fiscal 2011 and close a large budget gap in fiscal 2012," said Standard & Poor's credit analyst John Kenward. "We believe that these steps will help the board to successfully address its budgetary challenges and maintain adequate reserves in the future." The 'AA-'...
Companies mentioned in this report are:
- Chicago Brd of Ed
Action: New Rating
Action: Outlook: Stable
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.