On May 20th, 2014 the sale of $6,800,000 General Obligation Corporate Purpose Bonds was adopted by the City Common Council. View the 2014A Official Statement (PDF).
As stated in the City's Debt Policy, this issuance was rated by two rating agency's, Moody's Investors Service and Standard and Poor.
STANDARD AND POOR
The City received a AA/Stable rating due to the agency's assessment of the following factors: - Adequate economy
- Adequate debt and contingent liabilities position
- Strong budgetary performance
- Strong Management with good financial policies
- Very Strong budgetary flexibility
- Very Strong liquidity
To view the complete rating report: Standard and Poor 2015 AA Rating (PDF).
Moody's Investors Service
The City received a Aa2 rating due to the agency's assessment of the following factors: - Large suburban tax base
- Consecutive operating surpluses
- Modest Exposure to unfunded pension liabilities
- Strong financial operations with healthy reserves
View the complete Moody's published report: Moody's 2015 Aa2 Rating (PDF).