Moody’s Affirms City’s Aaa Bond Rating

Moody’s Investors Services affirmed its Aaa credit rating for the City’s general obligation bonds. Moody’s staff complimented City staff and Kane McKenna, the City’s financial advisor, on the information provided to Moody’s to assist its analysis of the City’s financial position, the local economy, and other factors relevant to the credit rating.

Staff anticipates that Fitch Ratings will also affirm its AAA rating of the City’s general obligation bonds, but Fitch had not notified City staff of its rating in time for this report. The AAA bond rating (which Moody’s designates as “Aaa”) is the highest rating for both Moody’s and Fitch.