CITY OF ELMHURST: City Earns AAA Bond Rating for 5th Consecutive Year
City of Elmhurst issued the following announcement on Nov. 12.
On November 5, 2018, the City of Elmhurst was informed that Standard and Poor’s (S&P) Global Ratings assigned the AAA rating to the Series 2018 General Obligation (GO) Bonds and affirmed its AAA rating to the City’s existing GO Bonds. The City’s bonds have been AAA rated by S&P for the 5th consecutive year. The AAA rating is the highest rating assigned to a governmental organization by S&P and reflects the City’s strong economy, powerful budgetary flexibility and performance, and strong liquidity position and management.
This AAA rating is very significant to the City’s ability to save money when the City issues new bonds and refinances existing debt. The 2018 GO Bonds will mostly finance storm water improvement projects. In Illinois, only about 30 of 310 rated municipalities have an AAA rating.
For more information, visit Elmhurst.org.
Original source can be found here.
Source: City of Elmhurst