Oak Brook Park District Gets Highest Bond Rating From Moody's

OAK BROOK, IL --- The Oak Brook Park District was recently awarded the highest bond rating available from Moody's Investors Service, a respected credit rating company that analyzes such things as financial stability. The park district was given a rating of Aaa with a "stable outlook," according to a press release from park district officials.

The high rating reflects the "overall stability" of the park district, officials said, based on such positive attributes as its "sound financial strength, healthy operating reserves, low debt and pension burdens."

In its press release Moody's said, "The stable outlook is indicative of our view that the district will maintain a healthy financial position due to the strength of its tax base, and demand for its services."

The Aaa rating comes after the Oak Brook Park District announced it would buy the 34-acre McDonald's Soccer Fields property located at the intersection of Jorie Boulevard and Kensington Road. The purchase and work to improve the piece of land will be funded by nearly $18 million in general obligation bonds.

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