Buffalo Grove receives AAA bond rating

Buffalo Grove has received a AAA bond rating, the highest possible, from Standard & Poor’s Global Ratings.

S & P assigned the rating to the village’s 2025 general obligation bonds and reaffirmed the AAA rating for the village’s outstanding general obligation debt.

The proceeds from the village’s $24.69 million bond issue will finance capital projects including construction of the new Fire Station 25 on Dundee Road, improvements to Fire Station 26 on Deerfield Parkway and street infrastructure enhancements.

Outstanding debt includes 2012 and 2016 bonds for streets, the 2020 bond issue for the infrastructure modernization program and 2020 bonds for the new public works facility.

“This AAA rating is a testament to the responsible financial stewardship of our village board and staff, and it positions Buffalo Grove for continued success in delivering the highest quality services while maintaining fiscal sustainability,” Village Manager Dane Bragg said.

In addition to the S & P rating, the village has received the Certificate in Achievement for Financial Report Award from the Government Finance Officers Association for 42 consecutive years.