On Monday, the Village received confirmation that the S&P Global Ratings (S&P) committee has reaffirmed the Village’s AAA bond rating. The analysis conducted by S&P cited a strong local economy, long run of positive operating results, strong reserves and engaged and thoughtful financial management as strengths of the Village. Specifically highlighted in the report as a strength was the Village’s recent move to a 25% fund balance policy, which is viewed as a significant indication of long term financial stability. S&P also shared a reference to their previous publication that cites how S&P considers whether to rate a local government higher than their sovereign government (as Glencoe is rated higher than the US Federal Government) - more information on this determination can be found on the S&P website through this
link. The full rating report is now posted to the Village's website
here.
