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Adams County School District No. 172, IL GO Debt Rating Raised To 'BBB' On Improved Finances; Outlook Positive Jan 12
Standard & Poors, Jan 2012
Abstract
CHICAGO (Standard & Poor's) Jan. 25, 2012--Standard & Poor's Ratings Services has raised its long-term rating on Adams County School District No. 172, Ill.'s general obligation (GO) debt to 'BBB' from 'BBB-'. The upgrade is due to improved finances due to a large operating surplus (though negative balances persist), positive financial projections, and a detailed, long-term deficit reduction plan. The outlook is positive based on Standard & Poor's expectation that the district will implement its deficit reduction plan, which management has projected will eliminate the district's negative fund balance within the two-year outlook horizon. At the same time, Standard & Poor's assigned its 'BBB' long-term rating to the district's $11.46 million GO school refunding bonds, series 2012. The outlook is...
Companies mentioned in this report are: Adams Cnty Sch Dist #172
Action: New Rating
Action: Outlook: Positive
Action: Upgraded
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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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