DuPage County Public Works Department’s long-term credit rating has been given a AAA and AA+ by Fitch Ratings.
According to Fitch Ratings, the AAA Bond Rating reflects the system’s strong financial performance, low debt burden and limited capital needs. Additionally, it was determined that the county’s water and sewer systems are well maintained, meet regulatory compliance and have sufficient capacity for future expansion.
DuPage County Board Chairman Dan Cronin of Elmhurst said it is fairly uncommon for water systems to receive the AAA bond rating, as only 13 percent of the water securities rated by Fitch Ratings received the high status.
“The County Board and the Public Works Department are to be commended for achieving the AAA and AA+ bond ratings. The positive ratings will benefit the department and DuPage taxpayers by enabling the county to secure low interest loans to fund future capital projects,” said Cronin.
Public Works Chairman Jim Healy said the AAA and AA+ ratings for the 2008 waterworks and sewerage bonds validate the county’s responsible fiscal management.
“DuPage County is committed to providing our customers with safe drinking water and wastewater treatment systems that protect the public. The positive ratings confirm the tough decisions made by the chairman, the County Board and the Public Works Department in an effort to maintain and sustain our systems for the future,” Healy said.
DuPage County Department of Public Works provides water and sewer services to about 160,000 unincorporated customers.
For more information visit DuPage County Public Works Department on the web.
Source: DuPage County