Adams County School District No. 172, IL GO Debt Rating Raised To 'BBB' On Improved Finances; Outlook Positive Jan 12
- Language: English
- Published: January 2012
The 'BBB' long-term rating assigned to Adams County School District No. 172, Ill.'s series 2009A general obligation (GO) school bonds reflects, in Standard & Poor's Ratings Services' opinion, the district's: Large negative general fund balance, on a cash basis; and Financial projections forecasting continued fund balance declines following a general fund operating deficit in fiscal 2009, though management indicates it will make the necessary budget adjustments to maintain current balances. Tempering these weaknesses are the district's previous history of large operating surpluses, adequate wealth and income levels, and the city of Quincy's status as a regional employment center. The district's unlimited-tax GO pledge secures the bonds. The district will use the bond proceeds to fund fire prevention and safety improvements...
Companies mentioned in this report are: Adams Cnty Sch Dist #172
Action: New Rating
Action: Outlook: Stable
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