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Bond Rating

Fitch Ratings-Chicago-21 April 2009:  In the course of routine surveillance, Fitch Ratings affirms the 'AA+' rating on the Village of Wheeling, IL's (the village) approximately $19.4 million in outstanding unlimited tax general obligation (GO) bonds issued through September 2005. The Rating Outlook is Stable.

The 'AA+' rating primarily reflects the village's conservative financial management, reflected in cost controls and maintenance of high general fund reserve levels, further enhanced by home rule taxing power and a diverse revenue stream. Other credit strengths include a moderate debt position with no future debt plans, slightly above average income levels, and below average unemployment. A key rating driver is the loss of a few top employers and below budget sales and income tax receipts, which will likely pressure general fund operations and reserves over the near term. However, given its substantial reserves, the village is positioned well to weather looming financial pressures.

(Text from Fitch Research - Press Releases - April 21, 2009)