KBRA Releases Rating Report for Chicago Park District General Obligation Bonds

BY Business Wire | MUNICIPAL | 09/20/23 03:56 PM EDT

NEW YORK--(BUSINESS WIRE)-- On September 19, 2023, KBRA assigned long-term ratings of AA with Positive Outlooks to the Chicago Park District's General Obligation Limited Tax Park Bonds Series 2023B; General Obligation Limited Tax Refunding Bonds, Series 2023C; General Obligation Unlimited Tax Refunding Bonds, Series 2023D (Personal Property Replacement Tax Alternate Revenue Source); and General Obligation Unlimited Tax Bonds, Series 2023F (Harbor Facilities Revenues Alternate Revenue Source).

Concurrently, KBRA affirmed the long-term rating of AA, with a Positive Outlook, on the District?s outstanding General Obligation Bonds.

To access rating and relevant documents, click here.

Click here to view the report.

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA?s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Source: KBRA

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.