Moody’s Investors Service downgraded to A1 from Aa3 its rating on the Kendall County Forest Preserve District’s general obligation debt based on narrow general-fund reserves and use of one-time revenues to cover operating deficits.
The action affects $48.7 million of outstanding rated debt.
The Forest Preserve District benefits from its sizeable tax base on the outskirts of the Chicago metropolitan area and a manageable debt burden.