Fitch Ratings Upgrades City Colleges of Chicago’s GO Bonds to AA- from A+

CHICAGO — (July 30, 2024) – City Colleges of Chicago announces that Fitch Ratings has upgraded its GO Bonds rating from A+ to AA- with a Ratings Outlook of Stable.

“Once again, we are pleased to see a rating improvement in our GO Bonds,” said Chancellor Juan Salgado, City Colleges of Chicago. “It speaks to our successful work to eliminate a structural deficit, return to strong cash reserves, and increase enrollment bolstered by our in-demand educational programs and critical student supports.”

City Colleges of Chicago’s spring 2024 enrollment was up 9.2 percent from spring 2023, exceeding the Illinois community college average of +5.1 percent, according to a report released in March 2024 by the Illinois Community College Board.

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