Moody's Investors Service said it has upgraded to Aa2 from Aa3 the general obligation rating of Waupaca County, Wis.
Concurrently, Moody's has assigned a Aa2 rating to the county's $13.8 million general obligation promissory notes, Series 2014A.
The notes are secured by the county's general obligation unlimited tax (GOULT) pledge, which benefits from a dedicated levy unlimited as to rate or amount. Proceeds from the notes will finance various capital projects included in the county's 2015-2017 capital improvement plan (CIP).
Post-sale the county will have $40 million in outstanding general obligation debt.
The Aa2 rating reflects the county's moderately sized, stabilizing tax base in east central Wisconsin (Aa2 stable); slightly below average resident wealth levels; healthy reserves and strong financial operations; and manageable debt profile.
