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News

KBRA Releases Rating Report Assigning Long-Term Rating of AA with a Negative Outlook to the Chicago Park District’s General Obligation Bonds, Series 2020A-E

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Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AA with a Negative Outlook to the Chicago Park Districts General Obligation Limited Tax Refunding Bonds, Series 2020A; General Obligation Limited Tax Refunding Bonds, Series 2020B; General Obligation Limited Tax Park Bonds, Series 2020C; General Obligation Unlimited Tax Park Bonds, Series 2020D (Personal Property Replacement Tax Alternate Revenue Source); and General Obligation Unlimited Tax Park Bonds, Series 2020E (Special Recreation Activity Alternate Revenue Source).

Concurrently, KBRA affirms a long-term rating of AA with a Negative Outlook on the Chicago Park Districts outstanding General Obligation Bonds.

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 U.S. Information Disclosure Form 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 U.S. Information Disclosure Form referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission. 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 and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

Analytical Contacts

Cindy Wu, Senior Director (Lead Analyst)

+1 (646) 731-2304

cwu@kbra.com

Jozelle Cox, Analyst

+1 (646) 731-1227

jcox@kbra.com

Harvey Zachem, Managing Director

+1 (646) 731-2385

hzachem@kbra.com

Karen Daly, Senior Managing Director (Rating Committee Chair)

+1 (646) 731-2347

kdaly@kbra.com

Business Development Contact

Bill Baneky, Managing Director

+1 (646) 731-2409

bbankey@kbra.com

James Kissane, Senior Director

+1 (213) 806-0026

jkissane@kbra.com

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