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FOR IMMEDIATE RELEASE
May 5, 2010
Roseanne Benson, Director
630/543-4100, ext. 7561
VILLAGE BOND RATING UPGRADED TO ‘AAA’
New Rating is Highest
The Village of Addison was notified May 3 by Fitch Ratings that its municipal
bond rating has been upgraded from “AA+” to the highest possible rating of
Credit ratings provide Fitch’s opinion on the relative ability of an entity to
meet its financial commitments. This new rating will allow the Village to
receive a substantially lower interest rate in the event bonds are issued for
construction or to refinance debt, said Village Manager Joseph Block.
“An upgrade in this economic climate is really an extraordinary achievement,”
“This shows that our Board and Staff are continually working in a fiscally
responsible manner, which is something we consider to be our top priority,”
Mayor Larry Hartwig said.
The Village had achieved the “AA+” ranking from Fitch in 2000, and it was
reaffirmed in 2008.