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Chicago Board of Education, Illinois; General Obligation Nov 07 Product Image

Chicago Board of Education, Illinois; General Obligation Nov 07

  • Published: November 2007
  • Region: Illinois
  • Standard & Poors

Abstract
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

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- Chicago Brd of Ed

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