Naperville maintains top retail sales and highest bond ratings in Illinois
Naperville continues to be recognized for its strong financial standing and robust retail sector, as confirmed on July 16. The city recently received the highest available bond ratings for its General Obligation bonds from both Standard & Poor’s Global Ratings and Moody’s Ratings, maintaining its 'AAA' and 'Aaa' ratings for over 30 years. These ratings reflect Naperville’s healthy local economy, low debt burden, strong cash reserves, and stable pension funding.
The bond-rating process evaluates a city’s financial health based on factors such as development trends, population growth, and available cash reserves. A triple-A rating indicates lower risk for bond purchasers and helps reduce borrowing costs by lowering interest rates. Moody’s report stated that Naperville “benefits from a growing economic base, stable financial profile supported by budgetary flexibility associated with its home rule status and its role as the second largest local economy in Illinois,” while Standard & Poor’s highlighted the city’s “robust, growing economy that is independently strong but also part of a broad and diverse metropolitan statistical area, along with a high level of reserves; consistently stable financial operating results, with no immediate budgetary pressures; low debt; and a sophisticated and knowledgeable management team.”
The recent ratings reviews were conducted in connection with a planned $40 million bond issuance later this month, which will support ongoing projects for Naperville’s Electric and Water Utilities. The full rating reports are available on the City Finance page of Naperville’s website.
Naperville also maintained its position as the state’s top retail sales tax generator outside of Chicago in 2025, according to the 2026 Melaniphy Chicagoland Retail Sales Report. The city has held this distinction since 2017, surpassing Schaumburg, and recorded over $5.7 billion in retail sales in 2025. Naperville led the suburbs in categories such as grocery, drinking and eating, home improvement, and auto dealer and gas purchases.
"Being the state's second-largest retail economy for nine years running is a testament to our community leaders and planners of the past who set us up for success today. That success matters because it keeps costs down for our residents. When businesses generate strong sales tax revenue, that money helps pay for city services, roads and public safety, so the burden doesn't fall as heavily on homeowners through property taxes. People want to live and visit a community known for its financial stability, public safety and quality of life. Businesses want to open their doors here too, and when they do, they help keep Naperville affordable for the people who call it home," Mayor Scott Wehrli said.
Naperville, located 28 miles west of Chicago, is home to approximately 150,000 people. The city features acclaimed schools, a highly rated public library system, diverse healthcare options, and a low crime rate. Its diversified employer base includes high technology firms, retailers, factories, and small businesses. Residents benefit from a variety of public transportation, housing, and employment options, as well as parks, civic opportunities, and a vibrant downtown area.