Buffalo Grove gets top marks from bond agencies

The Village of Buffalo Grove recently received notifications from two major credit rating agencies, Standard & Poor's and Moody's, that it has again achieved the highest ratings possible for bonds to be sold in 2016, as well as for its existing debt portfolio.

Moody's released their Aaa rating on April 8 for the Village's $6.28 million general obligation corporate purpose bonds. S & P released its AAA rating for the village April 13, citing strong budgetary flexibility, strong liquidity and low debt.

Among the credit strengths mentioned in the ratings were the village's proactive financial management, forward-looking financial projections and progress toward building reserves for future capital and operation needs, according to a statement from the village. A large and diverse tax base located within the Chicago metro area, an affluent residential base and low unemployment levels also were cited.

"Our goal is to continue to maintain the highest level of fiscal accountability and responsibility while providing excellent services for our residents," Village Manager Dane Bragg said in a news release. "These ongoing financial achievements are indicative of that serious commitment to our stakeholders."