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Summary: Kankakee Community College District No. 520, Illinois; General Obligation Feb 10
Standard & Poors, February 2010
The 'AA-' rating assigned to Kankakee, Will, Grundy, Livingston, Ford and Iroquois Counties Community College District No. 520, Ill.'s series 2010 general obligation (GO) bonds reflects Standard & Poor's Ratings Services' view of the district's: Moderately diverse local economy with ties to the southernmost portion of the Chicago metropolitan area, Good income levels, Very strong financial reserves, and Low overall debt burden with rapid amortization. In our opinion, an offsetting factor is the district's high unemployment rate, exemplified by the 13.6% reported for November 2009 for the Kankakee-Bradley metropolitan statistical area, which is substantially higher than the state's 10.5% and nation's 9.4%. The district will use bond proceeds to refund debt certificates that it issued in 2009. The district issued...
Companies mentioned in this report are: Kankakee Will Grundy Livingston Etc Comnty Coll Dist #520
Action: New Rating
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Kankakee Will Grundy Livingston Etc Comnty Coll Dist #520