The ratings on the village of Oak Park, Ill.'s debt have been lowered to 'AA-' from 'AA' to reflect the village's significantly weakened financial position, as illustrated by a negative general fund cash position and thin unreserved general fund balance exacerbated by the village subsidizing its structurally imbalanced parking fund with general fund monies. The 'AA-' rating on the village's series 2007 GO corporate purpose bonds reflects the village's: Access to, and participation in, the Chicago, Ill. MSA, augmented by a strong local economy with a variety of employment opportunities and a diverse tax base; Above-average income levels; Moderate debt burden, as a percentage of market value; and Stressed financial position in which most of the general fund balance was
