S&P raises Downers Grove, Ill. ratings to 'AAA'
Sept 20 (Reuters) - Standard & Poor's Ratings Services on Friday raised its long-term rating and underlying rating on Downers Grove, Ill.'s debt outstanding to triple-A from AA-plus.
In addition, Standard & Poor's rated Downers Grove's 2013A general obligation refunding bonds triple-A.
The outlook is stable.
The rating upgrade is based on recently released local GO criteria, S&P said.
The rating reflects Downers Grove's strong economy which benefits from its location near Chicago, its strong budgetary flexibility, and adequate budgetary performance, the rating service said.
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