DuPage County retains AAA bond rating after Fitch, S&P reviews
The DuPage County Board said late last week that the county will retain its AAA bond rating after a series of favorable reviews from Fitch Ratings and Standard and Poor’s (S&P).
The rating, which is the highest possible, is especially impressive in light of the current poor condition of many other government entities in the state, which are lagging due to large deficits and past-due expenditures.
“DuPage County is committed to reducing the cost of local government and maximizing our tax dollars,” County Board Chairman Dan Cronin said. “It is rewarding to see our diligence recognized. DuPage’s AAA bond rating gives the county access to lower interest rates, providing excellent value for our citizens.”
The Fitch review highlights DuPage’s robust financial standing, plentiful reserve accounts and low debt levels. It also reflects the area’s affluent reputation, diverse local economy and relatively low unemployment. The S&P report praises the county for its strong fiscal management and robust economy.
“I am pleased that DuPage County’s responsible fiscal management has led us to once again receiving the highest recognition from both Fitch’s and Standard and Poor’s,” Paul Fichtner, chairman of the board's Finance Committee, said. “We continue to be triple-A-rated by all three rating agencies, an elite status maintained by less than 2 percent of counties nationwide.”