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Summary: Chicago Brd of Ed, IL; Tax Secured, General Obligation Dec 03
Standard & Poors, December 2003
The 'A+' rating on Chicago Board of Education, Ill.'s GO bonds (alternative revenue source) series 2003D reflects: Chicago's deep and diverse economic base, which has been shielded from a deep downturn during the current recession; Sound financial management and institutionalized practices, producing a long-term trend of solid operations; Successful management and absorption of a massive construction program, to date; and Continued constituent support for board policies and reform measures resulting from improving test scores, higher enrollment, attendance and graduation rates, and lower incidences of truancy--all of which enhance the likelihood of additional achievement. Mitigating factors include the following: Challenges related to identifying funding sources for a multibillion-dollar capital improvement program (CIP), made massive by the size of the system and...
Companies mentioned in this report are:
- Chicago Brd of Ed
Action: New Rating
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- Chicago Brd of Ed