Standard & Poor's Ratings Services said it lowered its underlying rating (SPUR) to A from A-plus on Cook County School District No. 157 (Hoover-Schrum), Ill.'s general obligation debt outstanding.
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At the same time, it assigned an A rating to the district's school building bonds, series 2014A, and taxable 2014B, 2015A, and 2015B. The outlook on all ratings is stable.
"The lowered rating reflects our view of the district's budgetary pressures due to limited revenue-raising flexibility and a declining tax base," said Standard & Poor's credit analyst Kathryn Clayton.
