Stephenson County School District No. 145, IL Limited-Tax GO Bond Rating Lowered To 'A' On Weaker Finances, Reserves

CHICAGO (S&P Global Ratings) Feb. 11, 2025--S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) on Stephenson County School District No. 145 (Freeport), Ill.'s limited-tax general obligation (GO) bonds one notch to 'A' from 'A+'. The outlook is negative. At the same time, S&P Global Ratings assigned its 'A' rating and negative outlook to the district's roughly $7.2 million series 2025A limited-tax GO school bonds, roughly $10 million series 2025B taxable limited-tax GO school bonds, and roughly $14.3 million series 2025C GO school bonds based on the application of its criteria, "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. The rating action reflects our opinion of the district's weaker finances and reduced reserves. "We could

...February 11, 2025 CHICAGO (S&P Global Ratings) Feb. 11, 2025--S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) on Stephenson County School District No. 145 (Freeport), Ill.'s limited-tax general obligation (GO) bonds one notch to 'A' from 'A+'. The outlook is negative. At the same time, S&P Global Ratings assigned its 'A' rating and negative outlook to the district's roughly $7.2 million series 2025A limited-tax GO school bonds, roughly $10 million series 2025B taxable limited-tax GO school bonds, and roughly $14.3 million series 2025C GO school bonds based on the application of its criteria, "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. The rating action reflects our opinion of the district's weaker finances and reduced reserves. "We could lower the rating further if the district were to continue to report a fiscal imbalance, leading to further available fund balance deterioration," said S&P Global Ratings credit analyst...

Ratings Action