Standard & Poor's Ratings Services affirmed its 'A+' long-term rating on Zion Park District, Ill.'s series 2009B general obligation (GO) refunding bonds (alternate revenue source). The outlook is stable. The 'A+' rating reflects our view of the park district's: Participation in the diverse Chicago metropolitan area economy, Good income levels and adequate market value per capita, Operational flexibility to adjust program revenues and expenses, Very strong general fund reserves amid a stable negative recreation fund balance during the past two audited fiscal years, and Moderate overall net debt as a percentage of market value and rapid debt amortization. Partly offsetting the above strengths, in our view, are recent transfers to the general fund from the recreation fund and other enterprise...
Companies mentioned in this report are:
- Zion Pk Dist
Action: Outlook: Stable
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