Research Update: Stephenson County School District No. 145 (Freeport), IL GO Bond Rating Lowered To'BBB'From'A-'On Sizable Deficit - S&P Global Ratings’ Credit Research

Research Update: Stephenson County School District No. 145 (Freeport), IL GO Bond Rating Lowered To'BBB'From'A-'On Sizable Deficit

Research Update: Stephenson County School District No. 145 (Freeport), IL GO Bond Rating Lowered To'BBB'From'A-'On Sizable Deficit - S&P Global Ratings’ Credit Research
Research Update: Stephenson County School District No. 145 (Freeport), IL GO Bond Rating Lowered To'BBB'From'A-'On Sizable Deficit
Published Nov 04, 2026
Published Nov 04, 2026
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About This Report

  
Abstract:

S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) on Stephenson County School District (SD) No. 145 (Freeport) , Illinois’ limited-tax general obligation (GO) bonds and GO bonds two notches to ‘BBB’ from'A-‘. At the same time, we assigned our ‘BBB’ long-term rating to Stephenson County SD’s $4.1 million series 2026A, $445,000 series 2026B, $3.5 million series 2026C, and $18.4 million series 2026D taxable GO limited-tax school bonds. The outlook is negative. The downgrade reflects our opinion of Stephenson County SD’s considerably weaker fiscal 2026 year-end result than we previously anticipated and what we think will be substantial deterioration in reserves and liquidity in fiscal 2027. Stephenson County SD's debt-service-extension base, limited as to rate but unlimited

  
Report Type:

Research Update

Issuer
Stephenson County School District No.145 (Freeport)
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Stephenson County School District No. 145 (Freeport), IL GO Bond Rating Lowered To'BBB'From'A-'On Sizable Deficit" Nov 04, 2026. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Stephenson-County-School-District-No-145-Freeport-IL-GO-Bond-Rating-Lowered-To-BBB-From-A-On-Sizable-Deficit-3654755>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Stephenson County School District No. 145 (Freeport), IL GO Bond Rating Lowered To'BBB'From'A-'On Sizable Deficit Nov 04, 2026. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Stephenson-County-School-District-No-145-Freeport-IL-GO-Bond-Rating-Lowered-To-BBB-From-A-On-Sizable-Deficit-3654755>
  
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