Standard & Poor’s on Monday upgraded DuPage and Cook Counties Community Consolidated School District No. 181 to AAA to reflect its consistently positive financial operations, maintenance of very strong reserves, and good tax base growth.
The district’s $87 million of general obligation debt was previously rated AA-plus.
The review was completed in conjunction with the issuance of $5.8 million of debt certificates. The certificates are rated one notch below the GOs due to the limited nature of the security, payable only from funds legally available and not a full faith and credit pledge. The proceeds will fund improvements and renovations to facilities and refund 2000 certificates.
“We expect that the district will continue to maintain at least strong reserves,” analyst Justin Formas wrote. The stable outlook reflects the district’s strong economic fundamentals and participation in the DuPage County and greater Chicago metropolitan area economies.
The district is headquartered in Hinsdale, west of Chicago, and serves an area with a population of 25,591.
