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Summary: Chicago Brd of Ed, IL; Tax Secured, General Obligation Oct 05

  • ID: 2033911
  • October 2005
  • Standard & Poors
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Abstract
The 'A+' rating on Chicago Board of Education, Ill.'s series 2005C unlimited-tax GO bonds reflects: Chicago's deep and diverse economic base; The city's growing tax base; Sound financial management and institutionalized practices, producing a long-term trend of solid operations; Successful management of a massive construction program; 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: The challenges related to identifying funding sources for a multibillion-dollar capital improvement program (CIP), made massive by the size of the system and years of deferred maintenance, in a restrictive debt-raising environment. Rising debt burden...

Companies mentioned in this report are:
- Chicago Brd of Ed

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Chicago Brd of Ed

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