The Glencoe Park District Board of Commissioners is proud to announce a bond rating improvement to Aaa by Moody’s Investors Service. The Aaa rating (the highest rating available) will allow Glencoe Park District to issue debt at the lowest possible interest rate as the organization has proven itself to be among the top tier of local governments in terms of financial strength, both in Illinois and nationally.
Glencoe Park District has been striving to reach Aaa rating since being identified as an organizational goal in the early 2000’s. Moody’s issued the District’s first bond rating in 2000 at Aa3, and then upgraded the District in 2010 to an Aa2 rating. In 2015, Moody’s upgraded the District to Aa1, enabling a refunding that saved taxpayers nearly $730,000 in debt service.
“Today’s upgrade to the Aaa bond rating is a total team effort. It’s been a goal since our last rating upgrade in 2015, and shows the District’s commitment to long-term financial and capital planning, and strong fiscal policies,” stated Carol Mensinger, Director of Finance and Human Relations.
“Our excellent credit rating is the result of sound financial management and a commitment to being the most fiscally responsible Park District for current and future generations,” stated Lisa Sheppard, Executive Director. “I would like to thank Finance Director Carol Mensinger for her outstanding financial leadership that helped us reach our goals.”