S&P Global Ratings assigned its 'AAA' long-term rating to the City of Naperville , Ill.'s anticipated $44.1 million series 2025 general obligation (GO) bonds. At the same time, we affirmed our 'AAA' rating on the city's existing GO debt. The outlook is stable. The rating is based on the application of our criteria, " Methodology For Rating U.S. Governments ," published Sept. 9, 2024. The city's unlimited-tax GO pledge secures the bonds. Naperville will use the bond proceeds to fund water, electric utility system, and various capital projects. Although they are not pledged, the city intends to repay the bonds with water and electric utility revenues (rates have been adjusted to accommodate the debt service). Naperville holistically maintains credit stability
