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Anoka County Press Release
Anoka County’s Strong Bond Rating Reaffirmed
Citing Anoka County’s well-managed finances, strong annual
growth, and major commercial and residential development, Moody’s
Investors Services recently reaffirmed Anoka County’s strong Aa2
bond rating. The rating is a measure of the county’s
credit-worthiness and positively impacts the interest rate the
county pays on borrowing to fund major projects. Moody’s is one of
the largest bond-rating services in the nation.
Moody’s also noted the county’s steady tax base, proximity to
Minneapolis and St. Paul, and moderate debt level as important
strengths. The Moody’s report also predicts future growth will be
aided by the development of Northstar Commuter rail, scheduled to be
operational in 2009.
“I am very pleased that Anoka County has been able to maintain
its strong financial position despite the uncertainty of today’s
economic climate,” said Anoka County Board Chair Dennis Berg. “With
the Aa2 rating, Anoka County will realize significant cost savings
by issuing bonds at a lower interest rate. Those savings, in turn,
will be passed on to taxpayers.”
Anoka County’s credit rating has improved steadily, going from A1
in the early 1980s to Aa3 in 2001. In 2007, Moody’s again upgraded
Anoka County’s credit rating to Aa2, which is among the highest of
the 60 Minnesota counties rated by Moody’s.
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page last updated -
03/10/2008
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