A credit rating corporation has given the city of Madison an Aaa rating with a stable outlook, the highest possible rating a city can receive, Madison Mayor Paul Soglin announced in a press release Friday.
Moody’s Investors Service, the organization determining the rating, is a corporation providing credit ratings, research and risk analysis to track debt, according to the company’s site.
Moody’s recently introduced a “more rigorous” method for determining its ratings, according to the release. The rating affirms Madison’s sound budget management and conservative debt repayment structure.
"This rating is a reflection of confidence in the management of the city’s finances, both now and in the future,” Soglin said in the release. “I am pleased with the rating especially in light of the continued restraints the city is facing in shared revenues from the state."
The Aaa rating reflects the city’s large and diverse economy that benefits from significant institutional presence, sound financial operations with a history of healthy reserves and a manageable debt burden, according to the release.
"As budget discussions continue, the city is committed to maintaining this level by enacting another responsible budget for 2015," Soglin wrote.
