Moody’s Investors Service last week affirmed its A1 rating on Canton, Ohio and removed the negative outlook.
The city has just under $19 million of outstanding general obligation bonds.
“The affirmation of the A1 rating and removal of the negative outlook reflects the city’s improved financial position; sizeable, although declining, tax base which serves as the county seat of Stark County; below-average socioeconomic indicators; and manageable debt burden,” Moody’s said in a report.
An improved general fund balance or economic growth reflected in rising tax revenues could spark a ratings upgrade, Moody’s said.
