...S&P Global Ratings assigned its '###' rating and stable outlook to Naperville, Ill.'s series 2018 general obligation (GO) bonds and affirmed its '###' rating, with a stable outlook, on the city's existing GO debt. The city's unlimited-tax-GO pledge secures the debt. Officials intend to use series 2018 bond proceeds to fund various street projects and other capital improvements. The rating reflects our opinion 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; + Strong budgetary performance, with a slight operating surplus in the general fund and an operating surplus at the total governmental-fund level in fiscal 2017; + Very strong budgetary flexibility, with an available fund balance in fiscal 2017 of 23% of operating expenditures; + Very strong liquidity, with total government available cash at 44.1%...
