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Cook County Board President Toni Preckwinkle today applauded Moody's Investors Service upgrading Cook County’s bond rating from A2 to A1. This marks the second ratings upgrade in less than two years.
“We are incredibly proud of Moody’s Investors Service’s decision today to upgrade Cook County’s bond rating from A2 to A1. This step shows once again that we are on the right track and our efforts to create long-term fiscal stability are being rightfully recognized,” said President Preckwinkle. “Today’s recognition is proof of concept that local governments can both invest in our communities and remain responsible stewards of our residents’ tax dollars.”
Moody’s noted the upgrade to A1 reflects the County’s accumulation of sound reserves and considers pension reform legislation recently signed by Governor JB Pritzker. Improved financial operations have been driven by a willingness and ability to raise revenue, robust growth in sales tax receipts, operational improvements and an influx of federal aid.
“We appreciate Moody’s acknowledging our sound fiscal management, work to increase reserves and passage of landmark pension funding reforms,” added President Preckwinkle. “Despite the pandemic and numerous economic challenges, we have now received three outlook upgrades and two ratings upgrades in the last two years. I want to thank my finance team for all they have done to make this possible. This is the result of years of hard work and excellent news for the County.”
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Cook County Board President Toni Preckwinkle announced $10 million in funding today for the Businesses Reducing Impact on the Environment (BRITE) program, an initiative led by the County’s Department of Environment and Sustainability (DES). This program is available to dry cleaners, auto body and repair shops, metal finishers as well as food and beverage manufacturers in suburban Cook County and helps reduce their environmental impact through pollution reduction.
The County has allocated approximately $4 million for free on-site assessments to identify ways businesses can reduce pollution and create a healthier environment for employees, customers and the community. Assessments specifically look for opportunities to reduce energy and water usage, increase waste diversion from landfills, reduce use of toxic chemicals in operations and help determine if the location is suitable for on-site renewable energy.
Approximately $6 million in subsequent grant funding will be made available for businesses to complete recommended enhancements identified during the assessment, including equipment installation, construction and training.
“While pollution affects us all, historically disinvested communities bear the brunt of health issues that arise from living in areas with higher pollution,” said President Preckwinkle. “Mitigating the negative effects pollution creates in our communities is essential. I am proud to offer a program that assists businesses in reducing pollution, which will help make Cook County a better place for everyone.”
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Preckwinkle For President
1516 E. 53rd St.
Chicago, IL 60615
United States

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