Posted on August 6, 2020
The Carol Stream Park District is refinancing outstanding bonds for savings. In conjunction with the refinancing process the District underwent a Moody’s Rating and received an upgrade. This upgrade means the District can refinance at an even lower interest rate. That translates to lower repayments on future debt. We are estimating a present value savings of $1.8M through this refinancing process.
New York, August 03, 2020 — Moody’s Investors Service has upgraded the Carol Stream Park District, IL’s general obligation unlimited tax (GOULT) and general obligation limited tax (GOLT) ratings to A1 from A2, affecting $38 million in rated debt. The upgrade to A1 reflects the district’s strong financial performance over the past few years resulting in sound fund balance and liquidity. The A1 rating also reflects the district’s low pension burden and economic ties to the Chicago metro area supporting the district’s comparatively high resident incomes.