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BRIEF-S&P says City Colleges of Chicago, Il GO debt rating lowered to 'BBB'
April 20, 2017 / 10:30 PM / 5 months ago

BRIEF-S&P says City Colleges of Chicago, Il GO debt rating lowered to 'BBB'

April 20 (Reuters) - S&P Global Ratings:

* Says City Colleges Of Chicago, Il GO debt rating lowered to ‘BBB’ on weaker finances, state budget impasse; on watch neg

* Says lowered rating four notches on Cook County Community College District No. 508, Ill.’s outstanding unlimited-tax GO bonds

* Says City Colleges Of Chicago GO debt rating downgrade reflects substantially weakened unrestricted net assets, operating deficits leading to negative fund balance

* Says City Colleges Of Chicago GO debt rating downgrade also reflects liquidity pressure caused in part by reduced and unreliable state funding Source text: bit.ly/2orFkC6

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