Buffalo Grove maintains Aaa bond rating
Moody's Investors Service recently confirmed Buffalo Grove's 'Aaa' long-term bond rating, citing its "favorable location and its affluent demographic profile," in addition to strong reserves and a willingness to balance operations by adjusting revenues and expenditures. "Buffalo Grove closed fiscal 2015 with a fourth consecutive operating surplus across the major operating funds, including the General Service and Debt Service Fund," the agency stated.
Buffalo Grove is one of only 14 communities throughout Illinois to hold the highest rating available from Moody's, representing approximately 1-percent of 1,299 municipalities statewide. The rating impacts how much interest the village would expect to pay when borrowing, potentially saving taxpayers significantly.
"This rating is the result of prudent financial and budget management, and a conservative approach to managing debt," Village President Beverly Sussman said in a news release. "I credit both staff and the elected board for maintaining this prestigious rating."