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Tinley Park Village, IL's Bonds Raised To 'AA+' On Substantial Reserve Levels Apr 08 Product Image

Tinley Park Village, IL's Bonds Raised To 'AA+' On Substantial Reserve Levels Apr 08

  • ID: 2042106
  • April 2008
  • Standard & Poors

Abstract
CHICAGO (Standard & Poor's) April 8, 2008--Standard & Poor's Ratings Services raised its rating and underlying rating (SPUR) on Tinley Park Village, Ill.'s general obligation (GO) bonds to 'AA+' from 'AA'. The upgrade reflects substantial reserve levels, combined with an ability to enact a wide array of taxes due to the village's home rule status. The outlook is stable. At the same time, Standard & Poor's assigned its 'AA+' rating, and stable outlook, to the village's $5.14 million series 2008 GO refunding bonds. As a home rule community, Tinley Park's property tax levy is uncapped, and the village has a wide variety of revenue sources available to it. The village's revenues are diversified, with property taxes accounting for 36% of...

Companies mentioned in this report are:
- Tinley Pk Vill

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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