August 27, 2015 – The Woodridge Park District recently underwent a bond rating review by Standard and Poor’s (S&P) for the proposed issuance of 2015 debt certificates for the Phase 2 (Final) financing for the Athletic Recreation Center (ARC). S&P’s credit ratings express forward-looking opinions about the creditworthiness of the Park District and its obligations.
S&P re-assigned a rating of “AA-” with a stable outlook. An obligor rated in the “AA” category has a very strong capacity to meet its financial commitments. It differs from the highest-rated obligors only to a small degree.
S&P’s rating reflects the District’s:
- Participation in the deep and diverse Chicago metropolitan area economy;
- Very strong wealth and income levels;
- Very strong reserves; and
- Low-to-moderate debt burden.
S&P’s considers Woodridge Park District’s financial management practices “good” under its financial management assessment (FMA) methodology.
President Fred Hohnke stated, “the District is please with Standard and Poor’s rating of AA- which is an indicator of the District’s strong financial position.”