School District Number 148

• Issue Currency: United States of America Dollars
• Announcement Date: 06-Feb-2017
• News: School District Number 148, Cook County, Illinois (the District), pursuant to issuing its Debt Certificates, Series 2008 (the Certificates), entered into an undertaking (the Undertaking) to file notice of certain material events with respect to such securities as required by Rule 15c2-12 of the Securities Exchange Act of 1934. Among the material events for which notice is required by the Undertaking is a change in the Districts certificate rating. In accordance with the Undertaking, notice is hereby given to owners of the Certificates that Moodys Investors Service, Inc. (Moodys) upgraded the credit rating of the Certificates from A3 to A2 on February 2, 2017. Any explanation of the significance of such rating can only be obtained from Moodys. For Bond Document please visit www.BondPDF.com

• Issue Currency: United States of America Dollars
• Announcement Date: 06-Feb-2017
• News: School District Number 148, Cook County, Illinois (the District), pursuant to issuing its Debt Certificates, Series 2008 (the Certificates), entered into an undertaking (the Undertaking) to file notice of certain material events with respect to such securities as required by Rule 15c2-12 of the Securities Exchange Act of 1934. Among the material events for which notice is required by the Undertaking is a change in the Districts certificate rating. In accordance with the Undertaking, notice is hereby given to owners of the Certificates that Moodys Investors Service, Inc. (Moodys) upgraded the credit rating of the Certificates from A3 to A2 on February 2, 2017. Any explanation of the significance of such rating can only be obtained from Moodys. For Bond Document please visit www.BondPDF.com