The 'A+' rating assigned to Cook County School District No. 88 (Bellwood), Ill.'s limited school bonds reflects, in Standard&Poor's Ratings Services' opinion, the district's: Participation in the deep and diverse Chicago metropolitan area economy; Good income level; and Improved financial operations with strong cash reserves. In our view, offsetting these credit strengths is the district's moderately high overall debt burden. The district's series 2009A and 2009B limited school bonds are secured by the district's debt service extension base, which is limited by amount but unlimited as to rate. The district will use $4.0 million of bond proceeds to build up its working cash reserves. The remaining bond proceeds will be used for various capital projects and to refund
