Standard & Poor's Ratings Services said it lowered its long-term rating to A from AA-minus on DeKalb, LaSalle, & Kendall Counties Community Unit School District No. 430 (Sandwich), Ill.'s general obligation bonds outstanding.

The outlook is stable.

"The lowered rating is based on our view of a substantial reduction in cash reserves, and projected deficits that will further weaken reserves," said Standard & Poor's credit analyst Kathryn Clayton.

The rating further reflects the district's: stable local economy with access to the western suburbs of the Chicago metropolitan area economy; favorable economic indicators that reflect both strong income and wealth levels; and low debt levels with a rapid amortization schedule.

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