Evanston Receives AAA Credit Rating, Highest Score from Top Credit Rating Agencies
As a part of the issuance of General Obligation Bonds, the City of Evanston’s credit rating is re-examined by recognized ratings agencies. The city is evaluated by Moody’s and Fitch Ratings (international investment ratings firms). Prior to the issuance of new bonds, these agencies evaluate the issuer’s financial condition through a review of all published financial reports (audits and budgets) and through an interview of city management staff. Based on this review, these agencies affirmed the city’s top credit rating for 2012, the highest attainable rating.
In reviewing the city’s financial condition, both agencies noted continued revenue stability, cost containment measures, and the overall financial stability of Evanston. Having the highest credit rating means direct savings to the city when issuing debt in the form of the lowest possible interest rates for long-term bonds. Both agencies’ reports include a wealth of information regarding the city’s financial condition.
By Martha Logan