Moody's Affirms District's Aaa Rating

Friday, February 14, 2025

On January 31, 2025, Moody's Investors Service ("Moody's") affirmed the rating for Glencoe Park District (the "District") at Aaa, the highest available rating on Moody's rating scale. The rating was provided for the District's General Obligation Park Bonds, Series 2025 (the "Bonds"), but applies to all of the District's outstanding General Obligation bonds and to the overall credit of the District. The Bonds will finance various capital improvements within the district, including improvements to Glencoe Beach and an athletic field, and construction and equipment of a new community greenhouse and parks maintenance facility.

In its Credit Opinion, Moody's highlighted several factors contributing to its rating, including the District's sound financial management and affluent tax base. The District has demonstrated an approach toward its financial resources characterized by sound management and responsibility. The District's operating fund balance exceeds 60% of operating expenditures, while the Capital Projects Fund has accumulated over $6 million to address various capital needs throughout the District. This prudent management has positioned the District to execute its 10-year capital plan while leveraging the capital market to secure the lowest possible borrowing costs.

"Our excellent credit rating is the result of sound financial management and our commitment to being the most fiscally responsible Park District for current and future generations," stated Lisa Sheppard, Executive Director. "I would like to thank Finance Director John Cutrera and our business team for outstanding financial leadership that helped us reach our goals."

"The Series 2025 bonds, approved by voters in November, will enable us to invest in a new community greenhouse, a parks maintenance facility, and improvements to Glencoe Beach and our athletic fields, protecting our parks and facilities for the next generation. We are grateful to the Glencoe community for their ongoing support, which plays a crucial role in making these achievements possible," said Sheppard.

Please see the issuer/deal page on https://ratings.moodys.com for additional regulatory disclosures for each credit rating.