KBRA Releases Report Assigning BBB- Rating with Stable Outlook to the Board of Education of the City of Chicago Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2021A and 2021B

On January 20, 2021, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of BBB- with a Stable Outlook to the Board of Education of the City of Chicago Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2021A and Series 2021B.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, January 22, 2021
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Banking, Professional services, Finance, Finance, Money, Economy, Credit rating, Bond credit rating, Bond market, Bond valuation, Credit risk, Investment, Credit rating agency, Nationally recognized statistical rating organization, KBRA
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NEW YORK, United States, CHICAGO
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KBRA
Summary
Key Points: 
  • On January 20, 2021, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of BBB- with a Stable Outlook to the Board of Education of the City of Chicago Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2021A and Series 2021B.
  • The series for which have special revenue opinions provided to KBRA have been affirmed at BBB.
  • The series for which legal opinions have not been provided to KBRA have been affirmed at BBB-.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.


On January 20, 2021, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of BBB- with a Stable Outlook to the Board of Education of the City of Chicago Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2021A and Series 2021B.

At the same time, KBRA affirmed the long-term ratings on the Board’s outstanding general obligation debt. The series for which have “special revenue” opinions provided to KBRA have been affirmed at BBB. The series for which legal opinions have not been provided to KBRA have been affirmed at BBB-. The Outlooks are Stable.

Click here to view the report. To access ratings and relevant documents, click here.

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

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