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Waukegan Community Unit School District #60 has earned a credit rating upgrade from Standard & Poor’s (S&P) Global Ratings, improving from an A to an A+ with a Stable Outlook. This milestone reflects the district’s strong financial management and responsible resource allocation, despite economic pressures and the expiration of federal ESSER (Elementary and Secondary School Emergency Relief) funds.
This marks District 60’s first credit rating increase from S&P since 2014. The report cited the district’s “positive financial operations, deep financial reserves, and minimal reliance on debt while cash funding a significant portion of the district’s capital needs.”
“This is an outstanding achievement, especially in today’s challenging economic environment,” said Gwen Polk, Associate Superintendent of Business & Financial Services. “It’s been a long journey, and I want to thank every member of our staff, as well as the Board of Education and Superintendent Plascencia, for their roles in reaching this moment.”
The upgraded credit rating enhances the district’s financial flexibility and positions it to reduce future borrowing costs, allowing for greater reinvestment in key initiatives that benefit students and the community.