Moody's Gives Lemont Aa2 Bond Rating

The following is a press release from the Village of Lemont:

Moody’s Investor Service has issued an Aa2 bond rating for the Village of Lemont citing “moderately sized tax base in the Chicago metropolitan area, structurally balanced operations bolstered by healthy General Fund reserves, and a moderate debt burden” as credit strengths. The credit rating was issued as a part of two General Obligation Refunding Bond issuances. The Village expects to have cost savings due to lower interest rates as a result of the refunding.

“A high rating is critical for the refunding process.” Lemont’s Finance Director, Christina Smith said.

George Schafer, Village Administrator, stated: “This rating reflects the strong commitment the Village Board and management have to ensure the Village’s solid financial position.”

Lemont also receive a Aa2 bond rating the last time Moody’s analyzed its debt, which was in 2012.