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Posted on: May 3, 2019

City Earns Strongest Moody Rating Possible for Municipal Bonds

PSA

City Earns Strongest Moody Rating Possible for Municipal Bonds


Contact: Pete Strecker, Finance Director, 970-920-5007, pete.strecker@cityofaspen.com

Aspen, Colorado – May 3, 2019 – The City of Aspen has earned the strongest credit rating possible from Moody’s, an impressive designation that most municipalities do not achieve.  This is an upgrade from the rating the City earned in March.

Now, the City of Aspen is Aaa rated for its general obligation bonds.

“The City’s strong financial policies and practices, healthy reserves, long range fiscal outlook and planning efforts helped the City achieve this rating,” said Pete Strecker, finance director for City of Aspen.  “This, along with our consistent trend of positive revenue collections, all contributed to this upgrade.”

The Moody’s report noted Aspen’s large affluent tax base, world-renowned tourist destination, strong financial management with strategic focus, and low fixed costs and lack of pension liability.


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