CHICAGO (Standard&Poor's) Jan. 18, 2013--Standard&Poor's Ratings Services lowered its underlying rating (SPUR) to 'A-' from 'A+' on Cook County School District No. 88 (Bellwood), Ill.'s general obligation (GO) bonds and placed the SPUR on CreditWatch with negative implications. "The 'A-' rating reflects our view of the district's projections for general fund drawdowns in fiscal years 2012 and 2013, its revenue pressures, and significant personnel turnover," said Standard&Poor's credit analyst Jennifer Boyd. The rating action is based on our view of the information the district has provided us, which includes projections of deteriorating reserves in its general fund since fiscal 2010, the most recent audited year. The CreditWatch placement reflects our view of insufficient information
