Moody's Investors Service affirms the Aa1 rating on the Village of Schaumburg, IL's general obligation unlimited tax (GOULT) debt. The outlook remains stable.
The Aa1 rating reflects the village's substantial tax base supported by a strong commercial sector, well-managed financial operations with healthy reserves, and elevated debt and pension burden. The rating also considers broad powers to increase revenues, high exposure to economically sensitive sales taxes and enterprise risks associated with the village's convention center.
The stable outlook reflects our expectation that the village's strong economy and budgetary flexibility to raise revenues or reduce capital spending will support sound financial operations and absorb rising pension costs. The outlook also incorporates strong liquidity in the Convention Center Fund, which provides a cushion against competitive risks.
Read the full report here.