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Lake County Community Consolidated School District No. 24, IL Bond Rating Lowered To 'A-' On Deficits And Weak Liquidity Mar 12
Standard & Poors, March 2012
CHICAGO (Standard & Poor's) March 26, 2012--Standard & Poor's Ratings Services has lowered its long-term rating to 'A-' from 'A' on Lake County Community Consolidated School District No. 24 (Millburn), Ill.'s bonds. "We lowered the rating based on our opinion of the district's continued operating deficits following several years of structural imbalances and reliance on external borrowing for liquidity," said Standard & Poor's credit analyst Lin Johnson III. The rating reflects Standard & Poor's assessment of the district's: Continued structural imbalance in the combined educational and operations and maintenance fund; Weak cash position with, which is reflected by seven days' cash on hand, its reliance on intrafund borrowing, and the issuance of tax anticipation warrants that cross fiscal years; and...
Companies mentioned in this report are: Lake Cnty Comnty Cons Sch Dist #24 Millburn
Action: Outlook: Negative
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Research type: News
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Lake Cnty Comnty Cons Sch Dist #24 Millburn