Moody's keeps Bloomingdale credit rating level

BLOOMINGDALE - The village of Bloomingdale was notified by Moody's Investors Service that it has reviewed and maintained its credit rating of "Aa2" for the village.

The Aa2 rating slightly exceeds the median rating of Aa3 for U.S. cities. Theis follows an upgrade by Standard & Poor's of the Village's bond rating in 2015.

The report found the financial position of the village to be very healthy and relatively favorable with respect to its Aa2 rating and Bloomingdale's cash balance as a percent of revenues to be notably stronger than the U.S. median and showed significant growth from 2012 to 2015.

"The stable credit rating is a testament to the Village Board and staff. Many of the financial policies and practices implemented in the recent past played a vital role in Moody's decision to maintain the Village's credit position," said Village President Franco Coladipietro. "The stable rating is a validation of the sound management practices of the Village."