Standard&Poor's Ratings Services raised its rating on Oak Park, Ill.'s outstanding general obligation (GO) bonds to 'AA' from 'AA-' due to improvement in the village's financial position. The outlook is stable. The rating reflects our assessment of the following factors for the village: Very strong economy, which is at the center of the broad and diverse economy of the Chicago-Naperville-Elgin metropolitan statistical area; Strong budgetary flexibility in terms of available general fund reserves; Strong budgetary performance; Very strong liquidity in terms of total governmental cash available to cover both debt service and expenditures; Strong management with good financial policies and practices; and Very weak debt and contingent liabilities position. We consider Oak Park's economy to be very strong
