KBRA Assigns BBB Rating and Positive Outlook on the Board of Education of the City of Chicago’s Unlimited Tax G.O. Bonds (Dedicated Revenues), Series 2017C, 2017D, 2017E, 2017F and Series 2017H

NEW YORK--(EON: Enhanced Online News)--Kroll Bond Rating Agency (KBRA) has assigned a BBB rating and Positive Outlook on the Board of Education of the City of Chicago’s (the “Board”) Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2017C Series 2017D, Series 2017E, Series 2017F, Series 2017H. KBRA has also assigned a BBB rating and Positive Outlook to the Board’s outstanding Unlimited Tax General Obligation Bonds (Dedicated Revenues) Series 2017B , and a BBB- rating and Positive Outlook to the Board’s outstanding Unlimited Tax General Obligation Bonds (Dedicated Revenues) Series 2017A. The outlook change reflects KBRA’s view that the additional State and local sources now available to the Board, along with the hold harmless provision of the new State funding formula, provide the necessary tools for significant operational and financial improvement.

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KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

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