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Village Retains AA+ Bond Rating

The Village of Downers Grove has retained it's bond rating of AA+ from Standard & Poor's (S&P).  S&P Ratings Services completed the bond rating as part of the Village's 2012 bond issuance process.  A high rating of AA+ enables the Village to borrow money at a low cost, affirming the Village's economic stability. 

S&P officials indicated that the Village received the highest possible score on management and noted that the Village's financial planning efforts and budget decisions were major reasons for this score.  The S&P Summary Report sites the following as factors which contribute to Downers Grove's economic stability: 

  • Very strong reserves supported by strong financial management practices;
  • Diverse local economy consisting of a good mix of residential and commercial properties;
  • Very strong income levels and extremely strong market value per capita;
  • Low-to-moderate overall debt burden; 
  • Participation in the Chicago metropolitan area's deep and diverse economy.

On Thursday, March 21, Village staff hosted S&P representatives for a review of the Village's overall financial position that included summary presentations of the Long Range Financial Plan and Strategic Plan in addition to a short tour of Downers Grove.   

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