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Kankakee bond rating rises; city may go to market this week or next
Summary
City officials told the budget committee on Sept. 8 that Kankakee’s bond rating was upgraded to A‑minus (stable). Officials said bond insurance and initial bids came in below performance targets and a decision on whether to sell bonds will be made tomorrow; the sale is tentatively scheduled for Sept. 11 or Sept. 16.
KANKAKEE, Ill. — City officials told the Budget Committee on Sept. 8 that Kankakee’s bond rating has been upgraded to A‑minus (stable) and the city is preparing to market a bond sale either Thursday, Sept. 11, or Tuesday, Sept. 16. Mayor (name not stated) said the rating move returns the city “back into the A’s” and called the change “positive news.”
The upgrade could reduce borrowing costs…
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