Standard & Poor’s boosted the rating on debt held by the southeast Indiana town of St. John three notches to A from BBB as the town prepares to sell $2.6 million of waterworks revenue bonds. The outlook is stable.

Located in Lake County about 35 miles from Chicago, St. John has seen its population increase by 47% since 2000 to just under 13,000.  The growth is fueled by the town’s proximity to Chicago, said analysts.

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