The 'A+' rating on Lake County Consolidated High School District No. 120 (Mundelein), Ill.'s series 2008 general obligation (GO) refunding bonds reflects the district's: Participation in the Chicago metropolitan statistical area's (MSA) deep and diverse economy, High wealth and income, Good level of cash reserves, and Moderate debt burden. An offsetting factor is the district's enrollment growth pressures, which may require the district to expand its facilities. The 'A' rating on the district's debt certificates is set one notch below the district's 'A+' GO bond rating to reflect the fact that the certificates are payable only from funds legally available and the lack of a full faith and credit pledge. Lake County Consolidated High School District No. 120 serves the
