Moody's Investors Service said it has upgraded the village of Romeoville, Ill.'s general obligation rating to Aa2 from Aa3.
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Concurrently, Moody's said it has assigned a Aa2 rating to the village's $13.5 million general obligation refunding bonds, Series 2016. Post sale, the village will have $89.7 million in GO debt outstanding.
The upgrade to Aa2 reflects the village's healthy operating trend, conservative budgeting practices and healthy reserve levels, the agency said. The Aa2 rating also incorporates the village's large tax base, financial flexibility derived from home rule status and the village's elevated debt burden.
