Moody’s Reaffirms City’s Strong Bond Rating

Moody’s has completed its review of South Milwaukee’s financials and has reaffirmed our strong Aa2 bond rating — just two steps below the “best-of-the-best” AAA rating.

This is significant because it will help to insure that the city gets the most favorable interest rates possible for future borrowings, including those we’ll be voting on at our City Council meeting on Tuesday night. See the agenda here.

Of course, there’s a pride factor here, too. It is always nice to have an independent third party review our financials and proposed borrowings, and have them confirm that we are being fiscally responsible.

And it sure beats the alternative. We could have been downgraded, like Milwaukee.

(See my previous post on the Moody’s upgrade in 2010 here.)