CHICAGO (Standard&Poor's) Sept. 25, 2014--Standard&Poor's Ratings Services said it raised its rating on Oak Park, Ill.'s outstanding general obligation (GO) bonds to 'AA' from 'AA-'. The outlook is stable. "The upgrade is due to the village's improved financial position," said Standard&Poor's credit analyst John Kenward. Oak Park is eight miles west of downtown Chicago, and both Metra suburban commuter trains and Chicago Transit Authority elevated trains serve the village. The village is mostly built-out and has a stable population of about 52,000. RELATED CRITERIA AND RESEARCH Related Criteria USPF Criteria: Local Government GO Ratings Methodology And Assumptions, Sept. 12, 2013 Related Research S&P Public Finance Local GO Criteria: How We Adjust Data For Analytic
