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Moody’s Investor Service has assigned an Aa1 rating to all of Will County’s outstanding General Obligation bonds. The rating means that Moody’s judges Will County finances “to be of high quality and […] subject to very low credit risk.” It is the second highest of nine (9) credit ratings offered by the firm.
According to their March 16, 2012 report:
Assignment and affirmation of the Aa1 rating reflects [Will County’s] substantial, diversified and comparatively stable tax base; well managed financial operations; and a high overall debt burden that reflects the rapid growth in the area.
The report also compared Will County credit risk to that of other local bond issuers.
- Will County (Rated Aa1)
- Joliet (Rated Aa2)
- Bolingbrook (Rated Aa3)
- State of Illinois (Rated A2)
Will County’s credit rating could change up to Aaa under a few circumstances, such as growth in the tax base coupled with an improved demographic profile as well as moderation of the county’s overlapping debt.