Moody's Investors Service and Standard & Poor's have reaffirmed Plymouth's top bond ratings

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PLYMOUTH, MN - The top bond ratings of the City of Plymouth have been maintained by two bond credit rating agencies. On August 19, Standard & Poor's assigned Plymouth the highest possible rating of AAA, while Moody's Investors Service assigned Plymouth the same highest possible rating of Aaa.

Plymouth has received the top bond ratings from both agencies since 2010.

"This is an outside endorsement that we meet the high standards necessary to achieve top credit ratings," Plymouth City Manager Dave Callister commented. "These ratings ensure that the city has access to lower interest rates when we issue debt for investments in vital infrastructure."

In assigning the ratings, both rating agencies noted the City of Plymouth's strong financial position, low debt rate, and conservative monetary policies, as well as the community's general economic strength, as reasons for their decisions. For the purpose of assigning ratings, the rating agencies examine the company's historical and current financial condition, planning and strategy, and long-term development and capital improvement plans.

Plymouth's long-term AAA rating, according to Standard & Poor's, reflects "very strong management, with strong financial policies and practices." The audit also praised the city's fiscal policies, describing them as "consistent and conservative."

According to Moody's, the city of Plymouth, Minnesota, has outstanding credit quality and will continue to benefit from its location in the Twin Cities metropolitan region. Furthermore, due to the city's track record of conservative budgeting as well as its history of adding to reserves, the analysis stated that reserves would stay solid.

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