Elmhurst, IL - On May 18, 2017 the City of Elmhurst was informed that Standard and Poor’s (S&P) Global Ratings assigned the AAA rating to the Series 2017A General Obligation (GO) Bonds and affirmed its AAA rating to the City’s existing GO Bonds. The City’s bonds have been AAA rated by S&P for the 4th consecutive year. 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.
This AAA rating is very significant to the City’s 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.