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.