Summary: Cook County Community College District No. 508 (City Colleges of Chicago), Illinois; General Obligation

S&P Global Ratings assigned its 'BBB' rating to Cook County Community College District (CCD) No. 508 (City Colleges of Chicago), Ill.'s series 2017 unlimited-tax general obligation (GO) (dedicated revenues) bonds. At the same time, we affirmed our 'BBB' rating on the district's outstanding GO bonds. The outlook is stable. The series 2017 bonds and outstanding series 2013 bonds are secured by the district's unlimited ad valorem tax full faith and credit GO pledge. Series 2017 bond proceeds will be used for the design and construction of the Engineering and Advanced Manufacturing Center at Daley College, the expansion of the Olive-Harvey Campus to include a new 103,000 square-foot Transportation, Distribution, and Logistics building, capitalized interest through Dec. 1, 2018, and for

...S&P Global Ratings assigned its '###' rating to Cook County Community College District (CCD) No. 508 (City Colleges of Chicago), Ill.'s series 2017 unlimited-tax general obligation (GO) (dedicated revenues) bonds. At the same time, we affirmed our '###' rating on the district's outstanding GO bonds. The outlook is stable. The series 2017 bonds and outstanding series 2013 bonds are secured by the district's unlimited ad valorem tax full faith and credit GO pledge. Series 2017 bond proceeds will be used for the design and construction of the Engineering and Advanced Manufacturing Center at Daley College, the expansion of the Olive-Harvey Campus to include a new 103,000 square-foot Transportation, Distribution, and Logistics building, capitalized interest through Dec. 1, 2018, and for the cost of issuance. Roughly $6 million of the $80 million par will go for reimbursement of past projects. The bonds are alternate revenue source bonds payable from tuition and fees, state grants, and other...

Summary