S&P Global Ratings raised its underlying rating (SPUR) on Cook County School District No. 88 (Bellwood), Ill.'s general obligation (GO) debt one notch to 'A' from 'A-'. The outlook is stable. The rating action reflects our opinion of the district's improved budgetary performance and strong management team, resulting in a recent history of positive operations and available reserve growth to strong levels. The district's debt-service-extension base (DSEB), which is unlimited as to rate but limited as to amount, secures the bonds. Projected debt service for all limited-tax debt is below the current DSEB amount. The district's limited-tax GO bonds are also payable from legally available funds. Because the debt-service levy is unlimited as to rate and the district can access
