Both Lake Forest and Lake Bluff have maintained top triple-A bond ratings from Moody’s Investors Service, a distinction that local officials say strengthens the communities’ financial positions as they prepare to undertake large capital projects.
In early January, Moody’s reaffirmed Lake Forest’s longstanding triple-A rating following a full review of the city’s finances, which was conducted as the city prepares to issue $20 million in debt for the renovation of a Conway Park office building into a new police station.
Such comprehensive reviews are typically completed when a municipality plans to issue debt, Lake Forest Finance Director Katie Skibbe said.
“With the higher bond rating, the city is in a position to secure a better interest rate,” Skibbe added.
City officials cited reduced pension liabilities and strong cash reserves as key factors in maintaining the top rating.
“Lake Forest is well-positioned for long-term financial sustainability due to decisions made by past and present City Councils,” Mayor Stanford “Randy” Tack said in a statement. “By prioritizing pension funding and responsible fiscal management, we are saving future taxpayers tens of millions of dollars.”
Lake Bluff has also maintained a triple-A bond rating for many years, according to village officials.
“It is an expression of your financial standing,” Finance Director Bettina O’Connell said.
The village may soon benefit from the rating as it advances a large stormwater deep tunnel project. O’Connell said Lake Bluff could issue approximately $10 million in debt for the initiative over the next 12 months.
Daniel I. Dorfman is a freelance reporter for Pioneer Press.
https://www.chicagotribune.com/2026/01/12/lake-forest-lake-bluff-bond-ratings/



