Summary: Chicago Brd of Ed, IL; Tax Secured, General Obligation Oct 05
- ID: 2033911
- October 2005
- Standard & Poors
The 'A+' rating on Chicago Board of Education, Ill.'s GO bonds has been affirmed in conjunction with the board's entering into a basis swap, whereby it will exchange variable-rate payments with two counterparties. The board's primary rating factors are: 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...
Companies mentioned in this report are:
- Chicago Brd of Ed
- Chicago Pub Bldg Comm
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.
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. SHOW LESS READ MORE >