Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Lake County Consolidated High School District No. 120 (Mundelein), Ill.'s series 2011 general obligation (GO) limited school bonds. We also affirmed our 'AA' underlying rating (SPUR) on the district's previously issued GO debt and our 'AA-' SPUR on the district's previously issued debt certificates. The debt certificate rating is set one notch below the 'AA' GO rating on the district's bonds to reflect that the certificates are payable only from funds legally available, and to reflect the lack of a full faith and credit pledge. The outlook on all ratings is stable. The 'AA' GO rating reflects our view of the district's: Participation in the Chicago metropolitan statistical area's
