...The 'A+' IDR and ULTGO ratings incorporate the county's 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 general fund revenue stream's moderate exposure to economic volatility. The rating also reflects the progress the county has made in fundamentally realigning revenues and expenditures, improving its capacity to weather a moderate economic downturn, as well as its plan to improve pension funding in a way that does not present a risk to operations. Economic Resource Base: Cook County, the second largest county in the nation, 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 total assessed valuation and population....
