S&P Global Ratings assigned its 'AAA' long-term rating to Naperville, Ill.'s series 2016 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the city's existing GO bonds. The outlook is stable. The city's unlimited-tax GO pledge secures the series 2016 bonds. The city plans to use the bond proceeds to refund existing GO debt and for various capital projects. The rating reflects our assessment of the city's: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Very strong management, with "strong" financial policies and practices under our financial management assessment (FMA) methodology; Adequate budgetary performance, with operating results that we expect could improve in the near term
