S&P Global has affirmed the Village of Downers Grove's AAA Bond Rating, the highest rating issued by the agency. The Village has held this rating since 2013, allowing for the financing of infrastructure projects at the lowest possible cost and millions of dollars in savings for taxpayers.
AAA bond ratings are challenging to achieve and Downers Grove is 1 of about 20 municipalities in Illinois to earn this top rating. S&P acknowledged that the Village's performance in the following areas contributed to the high rating:
Very strong management conditions
Very strong budgetary flexibility
Strong budgetary performance
Very strong economy
"This outstanding municipal bond rating is directly attributable to the Village's efforts to be a steward of financial sustainability which benefits all residents and businesses," said Mayor Martin Tully.
The S&P Global summary report also cited the Village's long range financial and capital planning efforts as contributing factors for the AAA rating.