Standard & Poor's Ratings Services affirmed its 'AA' long-term rating on Hickory Hills Park District, Ill.'s series 2010 taxable general obligation (GO) limited-tax park bonds. The outlook is stable. The 'AA' rating reflects our view of the park district's: Participation in the diverse Chicago metropolitan area economy; Strong income levels and market value per capita; Operational flexibility to adjust program revenues and expenses; Very strong reserves in the combined general and recreational fund; and Rapid debt amortization, albeit with elevated debt service carrying charges. Securing the series 2010 bonds is the district's debt service extension base, which is limited as to amount but unlimited as to rate. Proceeds from the bonds were used to fund capital projects. Hickory Hills Park...
Companies mentioned in this report are:
- Hickory Hills Pk Dist
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 >