This report does not constitute a rating action. S&P Global Ratings? long term rating on Cook County Community College District No. 508 (City Colleges or the district), Ill.'s existing general obligation (GO) debt is 'BBB+?. The outlook is stable. As of June 30, 2024, the district had $274.5 million in long-term debt and leases, consisting of about $10 million in facilities leases and approximately $264.5 million in series 2017 and 2024 GO bonds outstanding. City Colleges? debt is fixed rate and the district has no contingent liabilities such as off-balance sheet, bank, or privately placed debt. The bonds are dedicated revenue source bonds payable from tuition and fees, state grants, and other pledged revenues. If pledged revenues are insufficient, the
