S&P raises Downers Grove bond rating to AAA
DOWNERS GROVE – The Village of Downers Grove received a AAA bond rating from Standard & Poor's, the highest rating issued by the agency.
The ratings upgrade from AA+ came as the village sought to refinance its 2005 series bonds.
"This outstanding municipal bond rating is directly attributable to the village's efforts to be a steward of financial sustainability," Mayor Martin Tully said in a statement. "With this analysis and report, Standard & Poors has acknowledged our long range planning efforts and exceptional management practices. All Downers Grove residents and businesses benefit as the village will refinance the bonds at a lower cost."
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