Standard & Poor's Ratings Services assigned its 'AA+' credit rating to the Village of La Grange Park earlier this week. The 'AA+' rating is an upgrade from the Village's previous credit rating and was based on several factors which included the overall economy, budgetary performance and overall management. The Village was rated strong or very strong in all factors.
The Village requested a rating from Standard's & Poor's in conjunction with the upcoming refunding of its 2006 sewer bonds. The Village initially anticipated saving approximately $300,000 as a result of the refunding. However, the final numbers are in the Village will actual save $426,000, which equates to approximately $40,000 in debt service annually.