The village of Bloomingdale recently received good news that it has retained the credit rating of Aa2, an extremely high credit position.
The Aa2 rating is slightly ahead of the median rating for U.S. cities, which is Aa3. Standard and Poor upgraded Bloomingdale’s bond rating last year, a move that contributed to the village’s high score. Other key factors included a robust financial position, a strong socioeconomic profile and a sizable tax base.
“The stable credit rating is a testament to the village board and staff,” Village President Franco Coladipietro said. “Many of the financial policies and practices implemented in the recent past played a vital role in Moody’s decision to maintain the village’s credit position. The stable rating is a validation of the sound management practices of the village.”
The favorable rating was also due to the village’s elevated pension liability and a light debt burden.
Alerts Sign-up