Summary: Naperville, Illinois; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to the City of Naperville, Ill.'s anticipated $21.14 million series 2024 general obligation (GO) bonds. S&P Global Ratings also affirmed its 'AAA' rating on the city's GO debt outstanding. The outlook is stable. The city's unlimited-tax GO pledge secures the bonds. Naperville will use the majority of the bond proceeds to fund water and wastewater utility system projects. Although they are not pledged, the city intends to repay the bonds with water and wastewater utility revenues. A small portion of the bonds may be used to refund the series 2013, if the city can achieve interest savings. Naperville holistically maintains credit stability indicative of a 'AAA' rating, including a robust, growing economy

...Most recent Historical information 2022 2021 2020 Market value ($000) 25,010,001 23,768,259 23,338,926 Ten largest taxpayers % of taxable value 2.2 Strong budgetary performance Operating fund result % of expenditures 11.1 10.7 3.1 Total governmental fund result % of expenditures 9.1 9.5 9.0 Very strong budgetary flexibility Available reserves % of operating expenditures 49.4 39.5 30.4 Total available reserves ($000) 66,497 51,542 37,482 Very strong liquidity Total government cash % of governmental fund expenditures 106 97 97 Total government cash % of governmental fund debt service 1670 1404 1908 Strong management Financial Management Assessment Good Very strong debt & long-term liabilities Debt service % of governmental fund expenditures 6.3 6.9 5.1 Net direct debt % of governmental fund revenue 41 Overall net debt % of market value 0.9 Direct debt 10-year amortization (%) 73 Required pension contribution % of governmental fund expenditures 12.6 OPEB actual contribution % of governmental...

Summary