Moody's: Tax Caps, Economy Are Hurting Illinois Schools

Carvlin, Elizabeth
May 2003
Bond Buyer;5/14/2003, Vol. 344 Issue 31635, p29
Trade Publication
Illinois school districts' reliance on property tax revenues has placed burdens on the credit quality of the state's districts, but some school districts have seen ratings upgrades as well. Illinois has the highest number of AAA and AA-plus rated school districts in the U.S. Of the 72 school districts that the agencies rates in Illinois, six carry the AAA rating and seven the AA-plus mark. Relative to inflation, districts' costs have risen rapidly. Limited labor market for teachers has also hurt schools. The state recently changed the way it reviews the health of its school districts, adding debt to the formula, and estimated that 85 percent of the 900 districts has shown a deficit.


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