Contact Information: Joan Olson (630) 407-6015
Friday, January 15, 2016
DuPage County Retains AAA Bond Rating
DuPage County Board announced today that the County has retained its AAA bond rating, the highest possible, during recent reviews with Fitch Ratings and Standard & Poor’s (S&P).
County Board Chairman Dan Cronin said the AAA bond rating is especially significant when many government entities are struggling with large deficits or unpaid obligations.
“DuPage County is committed to reducing the cost of local government and maximizing our tax dollars. It is rewarding to see our diligence recognized,” Cronin said. “DuPage’s AAA bond rating gives the County access to lower interest rates, providing excellent value for our citizens.”
According to Fitch’s, the bond rating reflects the County’s strong financial standing, healthy reserves and manageable debt levels. It also praised the County’s diverse local economy, low unemployment rate and high wealth levels.
In the S&P report, analysts cited DuPage’s strong economy, fiscal management and budgetary performance.
“I am pleased that DuPage County’s responsible fiscal management has led us to once again receive the highest recognition from both Fitch’s and Standard and Poor’s,” said DuPage County Board Finance Committee Chairman Paul Fichtner. “We continue to be triple-A rated by all three rating agencies, an elite status maintained by less than two percent of counties nationwide.”