...The 'A+' IDR and GO bond rating incorporate Cook County's (the county) broad revenue-raising capacity, limited expenditure flexibility and moderate long-term liabilities. A demonstrated ability to control rising costs and raise tax rates when necessary offsets the revenue stream's moderate exposure to economic volatility. The Stable Rating Outlook reflects progress the county has made in fundamentally realigning revenues and expenditures, improving its capacity to weather a moderate economic downturn and planning to improve pension funding in a way that does not present a risk to operations. Economic Resource Base: Cook County, the nation's second-largest county, with 5.2 million residents, serves as the economic and cultural center for the Chicago metropolitan region. The city of Chicago, which is located within the county, accounts for roughly 50% of the county's assessed valuation and population....
