Standard & Poor’s this week upgraded Eau Clai re’s rating to AA-plus from AA in recognition of the city’s strong financial performance, continuing development, and an increasingly diverse employment base.
The general obligation rating upgrade came in conjunction with the agency’s review of the upcoming sale of $6.2 million of GO corporate purpose revenue bonds, $2 million of GO promissory notes, and $8.1 million of taxable GO refunding bonds.
The first two series will fund various capital projects while the third will go to retire the city’s liability owed to the Wisconsin Retirement System, which manages state employee pensions.
“We expect the city’s economic growth to continue, fostered with the use of tax increment financing, along with the city’s continued ability to effectively manage its very strong financial position,” said analyst Scott Garrigan.
