Welcome to 3rdWard.org, a website dedicated to communication and transparency between Des Plaines City Government and you. This website, maintained by 3rd Ward Alderman Denise Rodd, is designed to keep neighbors engaged in their community and informed about issues.

Entries in City Credit Rating (1)

Monday
May032010

Moody's: City Credit Rating Improves

The City of Des Plaines was recently informed by its financial consultant, Spear Financial, Inc., that Moody’s Investor Services, the rating agency that ranks the credit-worthiness of borrowers using a rating scale, has assigned an Aa2 rating to the City’s outstanding municipal bond issues.

When using the Moody’s scale, the upward movement of the City’s bond rating was upgraded by one notch on the global scale.  The City’s last rating in October 2009 was an Aa3. Moody judges obligations rated Aa2 (Aa1 and Aaa are the only higher available ratings) to be “high quality,” with “very low credit risk.”

“We are pleased with Moody’s analysis of Des Plaines’ financial status.  An Aa2 rating will make our municipality more attractive to financial institutions and investment entities wanting to work with us in the future,” Des Plaines Acting City Manager Jason Slowinski said. 

Since the City’s last rating, Moody’s recalibrated its long-term US municipal ratings to its global rating scale.  This will allow for a greater comparability between the rating of municipal debt and those issued by corporate entities.  Learn more about the Moody's rating system