S&P Global Ratings affirmed its 'BBB' rating on Cook County Community College District (CCD) No. 508 (City Colleges of Chicago, City Colleges, or the district), Ill.'s outstanding general obligation (GO) bonds. The outlook is stable. As of June 30, 2021, the district's total debt was approximately $301.2 million, wholly comprised of the rated series 2013 and 2017 GO bonds. The district has no contingent liabilities such as off-balance sheet, bank, nor privately placed debt. The bonds are secured by the district's unlimited ad valorem tax full faith and credit GO pledge and our rating reflects the district's unlimited-tax GO pledge. The bonds are alternate revenue source bonds payable from tuition and fees, state grants, and other pledged revenues. If pledged
