CHICAGO (Standard&Poor's) Oct. 21, 2005—Standard&Poor's Ratings Services has lowered its rating on Lake County Consolidated High School District No. 120 (Mundelein), Ill.'s outstanding general obligation bonds to 'A+' from 'AA-' and its rating on the district's debt certificates to 'A' from 'A+'. The downgrades reflect the continuation of negative financial operations that have further weakened the district's financial position. The rating outlook remains negative to reflect uncertainty regarding the district's ability to return to balanced financial operations in future fiscal years. "While deterioration in the district's financial position appears to have slowed, there could be additional fiscal stress due to increasing enrollment and the revenue restrictions imposed by the levy cap," said Standard&Poor's credit
