Moody's Upgrades Plainfield's Bond Rating to Aa1

Submitted by the Village of Plainfield

Moody’s Investors Service has upgraded the Plainfield’s general obligation bond rating from Aa2 to Aa1. This is the second highest rating from Moody’s and it affects $18.5 million in outstanding rated debt.

As Moody’s notes in its report, “The Aa1 rating reflects the Village’s healthy financial operations and ample reserves supported by strong management and long-term fiscal planning. Additionally, the rating incorporates the Village’s sizeable tax base, high socioeconomic indicators, and modest debt and pension burdens.” The Village has been recognized by the bond rating agencies numerous times in recent years with upgrades.

Upon receiving the news from Moody’s, Mayor Collins commented, “We’re pleased that Moody’s continues to recognize the Village’s hard work and sound fiscal practices.”