Moody's Investors Service Tuesday affirmed Billings, Mont.'s general obligation debt at Aa2.

The rating, according to the agency, primarily reflects Billings' large tax base, which is more than double the size of the national median for Aa2-rated cities, sound financial operations with significant fund balances, below-average wealth measures and a modest debt burden.

The action comes as the city plans a $16.3 million GO sale in July. Bond proceeds will be used to finance the construction of a new library.

The affirmation also affects $15.1 million of parity debt.

With more than 100,000 residents, Billings is Montana's largest city.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.