{"id":271,"date":"2013-09-25T21:29:13","date_gmt":"2013-09-25T21:29:13","guid":{"rendered":"https:\/\/www.dgedc.com\/?p=271"},"modified":"2014-01-16T21:33:32","modified_gmt":"2014-01-16T21:33:32","slug":"%ef%bf%bc%ef%bf%bc%ef%bf%bcsp-raises-downers-grove-rating-to-aaa","status":"publish","type":"post","link":"https:\/\/www.dgedc.com\/%ef%bf%bc%ef%bf%bc%ef%bf%bcsp-raises-downers-grove-rating-to-aaa\/","title":{"rendered":"\ufffc\ufffc\ufffcS&#038;P Raises Downers Grove Rating to AAA"},"content":{"rendered":"<p>[row][one_half_column]\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffc\ufffcCivic Center<br \/>\n801 Burlington Avenue<br \/>\nDowners Grove, IL 60515-4776<br \/>\nFax: (630) 434-5571<br \/>\nWebsite: www.downers.us\u00a0[\/one_half_column][one_half_column] A news release from Village of Downers Grove<br \/>\nReleased by: Douglas Kozlowski<br \/>\nDept.: Communications Department<br \/>\nPhone: (630) 434-5550\u00a0[\/one_half_column]\u00a0[\/row]<\/p>\n<p>The Village of Downers Grove has received a AAA bond rating from Standard &amp; Poor&#8217;s (S&amp;P), the highest rating issued by the agency. The ratings upgrade from AA+ came as the Village sought to refinance its 2005 series bonds.<\/p>\n<p>&#8220;This outstanding municipal bond rating is directly attributable to the Village&#8217;s efforts to be a steward of financial sustainability,&#8221; said Mayor Martin Tully. &#8220;With this analysis and report, Standard &amp; Poors has acknowledged our long range planning efforts and exceptional management practices. All Downers Grove residents and businesses benefit as the Village will refinance the bonds at a lower cost.&#8221;<\/p>\n<p>The S&amp;P Summary Report cites the following as factors which contribute to Downers Grove&#8217;s economic stability:<\/p>\n<ul>\n<li><span style=\"line-height: 1.5em;\">Strong management conditions, with a consistent track record of balanced budgets;<\/span><\/li>\n<li><span style=\"line-height: 1.5em;\">Very strong budgetary flexibility, with 2012 audited reserves at 41% of general fund\u00a0<\/span><span style=\"line-height: 1.5em;\">expenditures;<\/span><\/li>\n<li><span style=\"line-height: 1.5em;\">Adequate budgetary performance, which takes into account capital spending S&amp;P\u00a0<\/span><span style=\"line-height: 1.5em;\">considers to be aggressive;<\/span><\/li>\n<li><span style=\"line-height: 1.5em;\">Very strong liquidity providing very strong cash levels to cover both debt service and\u00a0<\/span><span style=\"line-height: 1.5em;\">expenditures;<\/span><\/li>\n<li><span style=\"line-height: 1.5em;\">Strong economy, which benefits from participation in the broad and diverse economy of\u00a0<\/span><span style=\"line-height: 1.5em;\">Chicago.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Village of Downers Grove has received a AAA bond rating from Standard &#038; Poor&#8217;s (S&#038;P), the highest rating issued by the agency. The ratings upgrade from AA+ came as the Village sought to refinance its 2005 series bonds.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-271","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\ufffc\ufffc\ufffcS&amp;P Raises Downers Grove Rating to AAA - Downers Grove EDC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dgedc.com\/\ufffc\ufffc\ufffcsp-raises-downers-grove-rating-to-aaa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\ufffc\ufffc\ufffcS&amp;P Raises Downers Grove Rating to AAA - Downers Grove EDC\" \/>\n<meta property=\"og:description\" content=\"The Village of Downers Grove has received a AAA bond rating from Standard &amp; Poor&#039;s (S&amp;P), the highest rating issued by the agency. 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