S&P Issues “A” Issuer Credit Rating to Bellwood

October 17, 2014

The Village of Bellwood has been notified that Standard & Poor’s Ratings Services has issued an “A” issuer credit rating to Bellwood.

Mayor Frank A. Pasquale said, “We are pleased and proud to achieve an ‘A’ rating grade, especially for a village of our size and in light of the serious effort we’re making to continue moving the village forward. This bond rating grade reflects that Bellwood is well-managed and has sound financial practices and policies in place for the benefit of our taxpayers and businesses.”

Credit ratings provide information about credit risk and the ability and willingness of the issuer (such as a corporation or government agency) to meet its financial obligations in full and on time. Like individual credit scores, these credit ratings influence the interest rates for financing village projects.

Standard & Poor’s (S&P) will conduct a regular review of the village’s financials, budget, audit report, economy, outstanding debt and management practices. Bellwood Chief of Staff Peter Tisolis added: “This result is positive news for our residents, developers and virtually anyone who is doing business with the village or is considering Bellwood as an investment.”
The S&P analysis reported, “The rating reflects our assessment of the following factors for the village, including its very strong liquidity, adequate management conditions, adequate budget flexibility and adequate budgetary performance. The stable outlook reflects our view that Bellwood will likely maintain very strong liquidity and continue to benefit from the broad and diverse Chicago MSA (metropolitan statistical area) economy.”

Bond ratings that are affected by the rating action can be found on S&P’s public web site at www.standardandpoors.com; use the Ratings search box located in the left column to search for Village of Bellwood. For general information on credit ratings, click “Understanding Ratings.”  



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