Partly Cloudy
68°FPartly CloudyFull Forecast

Standard and Poor's upgrades District 113A's rating

Published: Friday, Oct. 25, 2013 3:06 p.m. CDT

LEMONT – Standard & Poor's Ratings Services said that it raised its underlying rating to "A+" from "BBB" on Lemont-Bromberek Combined School District 113A's existing general obligation bonds, according to a news release from the service.

"The rating action reflects our view of the district's improved financial position, bolstered by management's efforts to significantly cut expenditures to build reserves in its educational and operations and maintenance funds (combined general fund)," said Standard & Poor's credit analyst Blake Yocom in the release.

The release said the analysts see the district's strengths as being the incomes and market value per capita and available reserves. Its weaknesses include its elevated carrying charges and history of poor voter support in approving referenda.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Suburban Life Media.

Watch Now

Player embeded on all SLM instances for analytics purposes.

Driver slams through front door of Riverside bank Monday

More videos »
 

Reader Poll

What's the most important issue to you in your community?
Taxes
Schools
Crime
All of the above