Lake County Gazette

The Village of Buffalo Grove announced that Standard & Poor’s Global Ratings (S&P) has once again assigned its highest possible bond rating, ‘AAA,’ to the Village’s 2025 General Obligation (GO) bonds and reaffirmed the ‘AAA’ rating for all outstanding GO debt.

S&P’s updated rating reflects Buffalo Grove’s continued financial strength, robust management practices, and a strong local economy. The rating agency cited the Village’s sound fiscal policies, long-term financial planning, and disciplined budgetary controls as key factors in maintaining this top-tier rating.

"The Village of Buffalo Grove remains committed to strategic investment in our infrastructure and essential services, ensuring we continue to meet the needs of our growing community," said Village Manager Dane Bragg. "This AAA rating is a testament to the responsible financial stewardship of our Village Board and staff, and it positions Buffalo Grove for continued success in delivering the highest quality services while maintaining fiscal sustainability. "

The proceeds from the Village’s $24.69 million GO bond issuance will support critical capital projects, including the construction of a new Fire Station 25 on Dundee Road, improvements to existing Fire Station 26 on Deerfield Parkway, and street infrastructure enhancements. The Village continues to maintain strong financial reserves with no plans for unanticipated spending, further reinforcing its financial stability.

"Maintaining this highest rating affirms that we are making smart, responsible financial decisions that benefit both current and future residents," Bragg added.

Buffalo Grove’s rating reflects its strong economic foundation with high- income levels relative to national averages and ongoing major developments. These include a $150 million entertainment, commercial and residential district (“The Clove”) nearing completion and a $100 million mixed-use development anchored by a Tesla sales and service center.

In addition to the S&P rating, the Village has received the Certificate in Achievement for Financial Report Award from the Government Finance Officers Association (GFOA) for 42 consecutive years. The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting. The Village has received multiple awards for distinguished budget presentation and popular annual financial reporting dating back to 2013.