Fitchburg Achieves Top Financial Rating: A Boon for Local Growth and Development

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The City of Fitchburg, Wisconsin, has been upgraded to a Aaa rating by Moody’s Ratings, an improvement from its previous Aa1 rating. This upgrade, which applies to the city’s general obligation unlimited tax (GOULT) debt and its newly issued General Obligation Promissory Notes, Series 2024A, indicates strong economic health and fiscal management.

This is the first upgrade Fitchburg has received from Moody’s in 14 years, reflecting the city's effective financial strategies and ongoing development efforts. Fitchburg is now one of five communities in Wisconsin with this top-tier rating, demonstrating its commitment to strong financial fundamentals.

Mayor Julia Arata-Fratta noted the city’s progress from a rating of A in 1995 to the current Aaa status, attributing this to sound financial policies and decisions. Finance Director Misty Dodge credited the hiring of a public finance advisory firm and the implementation of robust financial policies for this success.

Since 1995, Fitchburg’s total equalized value has grown from $843 million to over $5.7 billion, and its population has increased from about 18,000 to over 30,000. The city has managed this growth by appropriately expanding services, maintaining its status as a vibrant and sustainable community.