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
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Adams Cnty Sch Dist #172