Tinley Park Village, IL's Bonds Raised To 'AA+' On Substantial Reserve Levels Apr 08

  • ID: 2042106
  • April 2008
  • Standard & Poors
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CHICAGO (Standard & Poor's) April 8, 2008--Standard & Poor's Ratings Services raised its rating and underlying rating (SPUR) on Tinley Park Village, Ill.'s general obligation (GO) bonds to 'AA+' from 'AA'. The upgrade reflects substantial reserve levels, combined with an ability to enact a wide array of taxes due to the village's home rule status. The outlook is stable. At the same time, Standard & Poor's assigned its 'AA+' rating, and stable outlook, to the village's $5.14 million series 2008 GO refunding bonds. As a home rule community, Tinley Park's property tax levy is uncapped, and the village has a wide variety of revenue sources available to it. The village's revenues are diversified, with property taxes accounting for 36% of...

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- Tinley Pk Vill

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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Research type: News
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- Tinley Pk Vill

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