Moody's Upgrades Lemont Library's Credit Rating

LEMONT, IL — Moody's Investor Service has upgraded the credit rating of the Lemont Public Library from A1 to Aa3. According to the credit opinion from Moody's, the library maintains strong reserves and benefits, and the direct debt and pension leverage is manageable.

"It is great to see that the fiscal responsibility and financial stewardship of the current Library Board is confirmed by independent third parties such as Moody's when they review our financial statements," Vytenis Kirvelaitis, Lemont Library board president, said.

According to Moody's, the upgrade reflects the library district's recent tax base growth, high resident income levels and a moderately-sized tax base.