School Town of Munster, IL Bond Rating Raised To 'BB+' On Improved Liquidity Position

CHICAGO (S&P Global Ratings) March 23, 2020--S&P Global Ratings raised its underlying rating by one notch to 'BB+' from 'BB' on bonds issued by and on behalf of the School Town of Munster (the district), Ill. At the same time, we affirmed our 'AA+' long-term rating on the district's outstanding debt. The outlook on the underlying rating is positive and the outlook on the long-term rating is stable.
"The raised rating and positive outlook reflect our view of the district's significantly improved liquidity position, increased available cash balance that is now in a positive position, and consistently positive operating results in recent years," said S&P Global Ratings credit analyst Taylor Budrow.
The primarily residential district encompasses approximately 8 square miles in northwest Indiana's Lake County, where it is located 15 southeast of Chicago.
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