Downers Grove Maintains Highest Possible Credit Rating

 Downers Grove has maintained this prestigious designation since 2013 and is one of only 19 cities and villages in Illinois to hold a AAA rating from S&P Global Ratings.

The AAA rating is awarded to communities with an exceptional ability to meet their financial commitments. For residents, that translates into lower borrowing costs for major infrastructure projects and greater confidence that the Village is being managed in a fiscally responsible manner.

“This AAA bond rating is a tremendous achievement, but it is really the result of the strong financial stewardship that has been a part of Downers Grove for decades,” stated Mayor Barnett. “It reflects the outstanding work our staff does every day and the community’s long-standing commitment to being serious and diligent about managing public finances. That commitment is about stewardship and service to our residents, and it is one of the things that sets Downers Grove apart from many other communities.”

According to S&P Global, the rating reflects several key strengths:

1. A strong and diverse local economy
2. Proximity to Chicago and access to the broader regional market
3. Consistent revenue growth
4. A robust financial position
5. Sound management practices
6. Home rule authority, which provides added financial flexibility

The report also noted that the Village has achieved better-than-budgeted financial results and has generated General Fund surpluses in each of the past ten audited years.

A disciplined approach to planning and oversight supports Downers Grove’s financial strength. The Village uses forward-looking budgeting, closely monitors revenues and expenses each month, and maintains detailed long-range financial and capital improvement plans. Formal policies governing reserves, debt, and investments help ensure that public resources are managed prudently. The Village’s commitment to cybersecurity best practices was also recognized.

The AAA rating is one of several recent recognitions highlighting the Village’s strong financial performance. Downers Grove has also received the Government Finance Officers Association Distinguished Budget Presentation Award and Certificate of Achievement for Excellence in Financial Reporting.

Maintaining the highest possible credit rating is another example of how the Village delivers both financial value and high-quality services to the community.