Chicago Board of Education, Illinois; General Obligation Nov 07
- ID: 2034094
- November 2007
- Region: Illinois
- Standard & Poors
The ratings on Chicago Board of Education, Ill.'s GO bonds have been raised to 'AA-' from 'A+', reflecting the board's maintenance of good financial operations, which are enhanced by strong financial management, and strong tax base growth. Other credit factors are: Chicago's deep and diverse economic base; Strong institutionalized budgetary practices, which help to produce a multiple-year trend of solid operations; A new five-year teachers' contract, which provides budget stability through fiscal 2012; Successful management of a massive capital improvement program; and Moderate debt burden in terms of percent of market value. Mitigating factors include the following: The challenges related to funding a multibillion-dollar capital improvement program (CIP) in a restrictive debt-raising environment; and The continuing challenges faced by the...
Companies mentioned in this report are:
- Chicago Brd of Ed
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