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updated: 6/1/2012 6:20 PM

Cook forest district bond rating up:

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Submitted by the Cook County Forest Preserve District

The financial ratings agency Standard & Poor's has upgraded the Forest Preserve District of Cook County's bond rating from AA- to AA. The agency cited strengthened corporate fund reserves, a large property tax base, positive financial operations with strong liquidity and moderate overall debt burden as reasons for the new assessment. This positive news comes as the district is preparing for a bond issue of up to $100 million, which will help it achieve land acquisition, reinvestment in camping opportunities and addressing deferred maintenance of facilities. "It is a positive sign that the district has been making sound financial decisions and that we're moving in the right direction at the right time," said Forest Preserve District Board President Toni Preckwinkle.