NEW YORK (S&P Global Ratings) Nov. 9, 2023--S&P Global Ratings raised its long-term and underlying ratings to 'BBB+' from 'BBB' on Cook County Community College District No. 508 (City Colleges or the district), Ill.'s existing general obligation (GO) debt. At the same time, we assigned our 'BBB+' long-term rating to the district's $201.24 million series 2023 unlimited-tax GO refunding bonds. The outlook is stable. "The raised rating reflects the district's improved enrollment trends, with a sizable enrollment base and sound demand, strengthened financial performance and growing reserves, which we expect will be maintained in the outlook period," said S&P Global Ratings credit analyst Mel Brown. The rating reflects our view of City Colleges' very strong enterprise risk profile and vulnerable
