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Cook County bond rating upgraded; board creates federal grant risk-mitigation fund and discusses $300 million municipal bridge loan program
Summary
Moody's upgraded Cook County's general obligation rating to AA3 after a county presentation. The board approved a federal grant risk‑mitigation fund and discussed a municipal bridge loan program modeled on a 2022 plan with up to $300 million in capacity to help local taxing districts manage late tax collections.
Cook County officials told the board on Sept. 17 that Moody’s Investor Services upgraded the county’s general obligation rating and the board approved a new federal grant risk-mitigation fund intended to protect essential county programs from sudden federal funding cuts.
Deputy CFO Dean Constantino presented Moody’s decision to raise the county’s rating from A1 to AA3, citing improved fiscal management and the county’s financial position. "Based on that analysis and based on the good work that this board has done ... they decided that they were going to upgrade our general…
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