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 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 that we have received from the district. Although the district has responded to our requests for information, we have not been able to obtain timely information of satisfactory quality to maintain our rating, in our view, given: We do not have
