Credit Ratings 

Credit ratings, provided by independent third parties, serve as an indicator of an organization's financial stability—as well as the safety and security of the debt sold by that organization. Investors often use these ratings to help make decisions on which bonds to purchase.

In general, higher credit ratings often result in lower borrowing costs for the district because our interest rates are lower and there is a wider market of buyers.

The table below shows the underlying ratings that have been assigned by the three major credit rating agencies: Fitch Ratings, Moody's Investors Service, and Standard & Poor's Rating Services, exclusive of any credit enhancement that may be attached to a particular bond issue.

The ratings reflect only the views of the particular rating organization. Chicago Public Schools has furnished each rating agency certain information and materials relating to outstanding obligations of Board of Education of the City of Chicago. The agencies base their ratings on the information and materials provided along with their own investigations, studies and methodologies. There can be no assurance that the ratings assigned will continue for any given time, or that a rating will not be lowered or withdrawn by a rating agency if in its judgment circumstances so warrant. The explanation of its views, rating meaning and significance may be obtained from the respective rating agency.

Name of Agency 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Current
Kroll Bond Rating Agency                   BBB+ BBB  (Series 2016AB)
BBB- (Prior Issues)
Fitch Ratings A+ A+ A+ A+ AA- A+ A A- A- BBB- B+
Standard & Poor's Rating Services A+ AA- AA- AA- AA- AA- A+ A+ A+ A- B+
Moody's Investor Services A2 A1 A1 A1 Aa2 Aa3 A2 A3 Baa1 Ba3 B2

Page Last Modified on Monday, February 01, 2016