NEW YORK--(BUSINESS WIRE)--On September 11, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA with a Negative Outlook to the Chicago Park District (CPD)’s General Obligation Limited Tax Park Bonds, Series 2018A; General Obligation Limited Tax Refunding Bonds, Series 2018B; General Obligation Limited Tax Refunding Bonds, Taxable Series 2018C; General Obligation Unlimited Tax Park Bonds, Series 2018D (Personal Property Replacement Tax Alternate Revenue Source); and General Obligation Unlimited Tax Refunding Bonds, Series 2018E (Special Recreation Activity Alternate Revenue Source). KBRA also affirmed its long-term rating of AA and Negative Outlook to the CPD’s outstanding general obligation bonds.
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Ratings |
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Issuer: Chicago Park District, IL |
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| Series/Bond | Rating | Outlook | Action | |||||||
| General Obligation Limited Tax Park Bonds, Series 2018A | AA | Negative | Assigned | |||||||
| General Obligation Limited Tax Refunding Bonds, 2018B | AA | Negative | Assigned | |||||||
| General Obligation Limited Tax Refunding Bonds, Taxable Series 2018C | AA | Negative | Assigned | |||||||
| General Obligation Unlimited Tax Park Bonds, Series 2018D (PPRT Alternate Revenue Source) | AA | Negative | Assigned | |||||||
| General Obligation Unlimited Tax Refunding Bonds, Series 2018E (Special Recreation Activity Alternate Revenue Source) | AA | Negative | Assigned | |||||||
| General Obligation Bonds | AA | Negative | Affirmed | |||||||
| KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted. | ||||||||||
KBRA’s long-term rating for CPD is based on the U.S. Local Government GO Methodology.
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. 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, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
