Bensenville District 2's high credit rating affirmed

Published: Tuesday, Nov. 19, 2013 3:39 p.m. CDT

BENSENVILLE – Standard & Poor's Rating Services reaffirmed Bensenville District 2's credit rating of AA+ last month, according to a district news release.

The rating is just one step below the highest rating possible of AAA. The credit rating agency cited the district's financial management and the favorable economic characteristics of Bensenville.

The district's credit rating is a reflection of strong finances and a favorable outlook on the Bensenville area in general, the release stated.

The credit rating was reaffirmed as part of a bond refinancing plan that is saving taxpayers $1.4 million in interest savings through the year 2026.

The district refinanced about $8 million in bonds originally issued in 2004 and 2006. All of the new bonds have a lower interest rate than the originals, and some of them will also be paid off earlier. The bond funds were used for building improvements across the district and the addition at Blackhawk Middle School.

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