The Village of Buffalo Grove Attains Highest Financial Rating
The Village of Buffalo Grove recently received a bond rating upgrade
to “AAA” by Standard and Poor’s (S&P). The rating was issued in
conjunction with bonds to be issued for drainage improvements and
various locations within the village. After staff presentations to the
credit analysts and committee review of both the financial condition and
management practices of the village, S&P determined that the
issuance of the highest municipal bond rating was warranted.
What a Bond Rating Is
Bond Ratings are reviewed by investors seeking to purchase municipal
bonds to gauge the village’s ability to repay its debt obligations. The
higher the rating, the lower the interest rate the village will pay on
Factors that contributed to the upgrade include, strong reserve
levels, good financial management, and extremely low overall debt with a
track history of rapid amortization.
As of March 4, 2010 there are only 14 S&P AAA rated Illinois local governments.
You may view a copy of the S&P Ratings Direct Report.