Quantcast
News

Edgerton, Wis., GOULTs Downgraded to A1 by Moody's

Moody's Investors Service has assigned a A1 rating to the city of Edgerton, Wis.'s $3.2 million general obligation refunding bonds, and downgraded to A1 from Aa3 the rating on the city's outstanding general obligation unlimited tax debt.

Post-sale, the city will have $7.2 million of outstanding general obligation debt.

Debt service on the bonds is secured by the city's general obligation unlimited tax pledge. Proceeds of the bonds will refund the certain outstanding maturities of the city's 2006 general obligation refunding bonds and two state trust fund loans for estimated interest savings.

The downgrade to A1 from Aa3 reflects the small size of the tax base that has recently experienced three consecutive years of valuation declines. The A1 rating also reflects the city's healthy financial operations and a manageable debt burden with no future borrowing plans.

JOIN THE DISCUSSION

SEE MORE IN

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Upcoming Events

Already a subscriber? Log in here
Please note you must now log in with your email address and password.