Lemont's District 113A Receives AA+ Bond Rating

LEMONT, IL — Lemont-Bromberek Combined School District 113A announced Thursday that S&P Global Ratings has increased its long-term bond rating to AA+.

This is the district's highest rating ever, and reflects the "strengthened reserves position after reporting a surplus in 2022 and the expectation that direct debt will remain very low," the District said in a release.

S&P cited the district’s strong financial operations as well as good financial management and planning as some of the key factors in the upgrade decision, according to a release.

The bond rating of the District has increased over the past decade:

• 2010, A- rating
• 2011, BBB Negative
• 2012, BBB Positive
• 2013, A+
• 2017, AA stable
• 2021, AA Positive
• 2023, AA+

The District has also earned a financial profile recognition score of 4.0, the highest attainable, for the 11th year in a row from the Illinois State Board of Education.

The goal of this score is to objectively assess the financial health of all school districts so that the public can gain a better understanding of where their district ranks in comparison to others, according to a release.

"The Board of Education is very proud to be recognized for our excellent practices and stewardship of taxpayer dollars that has resulted in this upgrade and the continued recognition of excellence from ISBE," Board President Damon Ascolani said.