FOR IMMEDIATE RELEASE
Contact: Derek Harms, Executive Director
Date: February 14, 2022
Phone: 217-544-1751 ext. 1000
Email: dharms@springfieldparks.org
SPRINGFIELD PARK DISTRICT ANNCOUNCES MOODY’S INVESTOR’S SERVICE UPGRADES THE DISTRICT’S CREDIT RATING FROM A1 TO Aa3
[Springfield, IL] – The Springfield Park District is excited to share the outstanding news that Moody’s Investors Service out of New York has assigned an Aa3 rating to the Springfield Park District, IL’s $2.4 million General Obligation Limited Tax Park Bonds, Series 2022. This is the highest credit rating that the Park District has ever obtained!
Moody’s stated that the upgrade to the Aa3 rating reflects the Springfield Park District’s continued bolstering of fund balances and the determined efforts to control district expenditures. Additionally incorporated in the rating is the large tax base in central Illinois with solid resident income, low debt, and moderate pension burden.
These ratings reflect the District’s all available funds pledge to pay debt service.
“This is a significant achievement that highlights the Park Board’s commitment to establishing long term financial stability. Through years of planning and controlling expenses the Board and staff have put the Park District on sound fiscal ground. My thanks to our staff throughout the agency for their hard work in getting us to this point." – states Board President Leslie Sgro
The Springfield Park District is who the community turns to in times of crisis, during the pandemic, to balance health and wellness in their everyday lives and this Moody’s Investors Service credit rating upgrade will only allow us to continue to serve and fund more!
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For more information on this topic and any other Park District news related items, please visit our website at www.springfieldparks.org