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City of Waterloo IO - City of Waterloo Maintains Moody s Aa2 Bond Rating 20 May 2022 ( news )
City of Waterloo , state IO ( By Press Release office)
May 20,2022
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City of Waterloo Maintains Moody ' s Aa2 Bond Rating
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City of Waterloo Maintains Moody ' s Aa2 Bond Rating
Waterloo , Iowa ( May 20 , 2022 ) – The City of Waterloo sold bonds Wednesday . Moody ' s Investors Service has assigned an Aa2 rating to the City of Waterloo , IA ' s $5 . 7 million General Obligation Bonds , Series 2022B and $4 . 3 million Taxable General Obligation Bonds , Series 2022C . Moody ' s maintains the Aa2 rating on the city ' s outstanding general obligation unlimited tax ( GOULT ) debt . Following the sale , the city will have approximately $117 million in GOULT debt .
The $5 , 685 , 000 Series 2022B tax - exempt issue was sold at a tax - exempt interest rate of 3 . 26% for a 15 - year term . The taxable $4 , 315 , 000 Series 2022C issue was sold at an interest rate of 4 . 10% for a 15 - year term .
Moody’s Investors Service announced that the City of Waterloo maintained its bond rating at Aa2 for the thirteenth year . This designation indicates that the City’s bonds are ranked in the high range of the upper - medium - grade category .
Mayor Quentin Hart , Chief Financial Officer Michelle Weidner and Noel Anderson , Community Planning and Development Director met with Moody’s Investors Service to present current City financial and economic information and to discuss the City’s bond rating earlier this year .
“We are pleased with the Aa2 rating . It demonstrates the City’s commitment to fiscal responsibility and sound business practices , ” says Mayor Hart .
The bond rating helps potential investors to determine the risk they take if they choose to invest in City bonds .
According to Moody’s , the City of Waterloo rating was based on its overall financial condition . Moody’s stated that the city’s well - managed finances have resulted in a stable operating history and maintenance of healthy reserves .
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