St. Charles retains Moody's Aa1 rating
The city of St. Charles recently retained its Aa1 bond rating from Moody's Investors Service.
Aa1 is the second highest rating offered by the credit rating service.
Chris Minick, director of finance for the city of St. Charles, said the report is confirmation the city remains in a strong financial condition.
"We are very pleased to retain this outstanding rating that distinguishes us among top fiscally sound organizations,” Minick said. "It’s especially significant coming out of the difficult economic climate we have experienced recently. This independent report verifies that the city of St. Charles is on solid financial ground."
The report positively noted the city's strong financial operations and reserve levels.Approximately 40 miles west of Chicago, St. Charles was named the No. 1 City for Families by Family Circle magazine in 2011, one of the 150 Great Places in Illinois by the American Institute of Architects Illinois and one of the Top 10 Towns To Live In by West Suburban Living Magazine.
The city's more than 2,100 businesses employ approximately 34,200 people, and include a mix of retail, restaurants and manufacturers.