Will County earns AA+ rating from S & P Global Ratings (Standard & Poor) and Aa1 rating from Moody’s Investor Service

In its effort to secure funding through the issuance of bonds for the proposed renewable natural gas plant, Will County presented its finances to credit ratings agencies, S & P Global Ratings and Moody’s Investor Service and the response from both was positive news for the county.

S & P Global Ratings (Standard & Poor) has confirmed the county’s AA+ credit rating. Moody’s Investor Services also assigned an Aa1 rating to the county. Both ratings are the second highest rating available from each credit reporting agency and reflect the county’s large and diverse tax base, above average resident income levels, and strong financial position. The county first received this designation in 2008.

“This is incredibly good news for Will County,” said County Executive Jennifer Bertino-Tarrant. “Revenue streams have been greatly impacted across the nation due to the coronavirus pandemic. All of us are being challenged to provide equal or additional services with reduced resources. This excellent credit rating is evidence that Will County is operating within our means.”

This favorable credit rating will enable the county to move forward important projects, such as the construction of a $45 million renewable natural gas (RNG) plant at the county-owned Prairie Bluff Landfill. Earlier this year, the County Executive and the County Board signed a Project Labor Agreement (PLA) with its local construction partners to ensure hiring of local, skilled craftsmen to work on the project. The RNG plant will produce a much cleaner-burning fuel and is expected to become a significant revenue stream for the county.

“I am proud of our county’s continued fiscal responsibility,” Bertino-Tarrant added. “Through shared sacrifice we are able to balance our budget, maintain services to our residents, and keep our county moving forward.”

Will County is currently the fourth most populated county in Illinois and is expected to exceed 700,000 residents in the next few years.