Elmhurst Receives AAA Bond Rating

ELMHURST, IL — The city of Elmhurst has received the AAA rating from Standard and Poor's Global Ratings for the fourth year in a row. The city said S&P affirmed its AAA rating to the city's existing GO bonds.

According to a release, 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.

The city said this AAA rating is very significant to its ability to both issue new bonds and refinance existing debt at the lowest possible interest rates. The 2017A GO Bonds will refund (refinance) the city’s outstanding Series 2009 GO Bonds with an estimated present value savings of at least $500,000 based on current rates over the next 12 years.

In Illinois, only about 30 of 310 rated municipalities have a AAA rating, the city said.

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