The City of Plymouth continues to maintain the highest possible bond ratings from both Moody’s Investors Service and Standard & Poor’s – a standing the city has maintained since 2010. Both bond credit rating services reaffirmed Plymouth’s financial standing and released the ratings on Feb. 6.

Standard & Poor’s has rated Plymouth with its highest AAA rating. Moody’s has given Plymouth the top Aaa rating. Just 11 other cities in Minnesota have received the highest possible ratings from both services.

”We expect the city's financial position will remain stable and continue to benefit from adherence to strong financial policies and healthy reserve levels,” according to the Moody’s Investors Service report.

In determining a bond rating, the services examine past and current financial status, future growth and future capital improvement plans. They also consider the community as a whole, looking at areas such as diversity of development, average per capita income, housing values and employment. The high ratings mean that Plymouth can bond at lower interest rates because of the positive scores.

“The ratings are a reflection of our financial policies,” Plymouth City Manager Dave Callister said. “Being responsible with tax dollars is a top priority, and the ratings attest to that.”

Callister noted that the exceptional bond ratings help keep interest rates low on Plymouth’s bonds. The ratings also cause optimism for future bonding, such as financing for the upcoming Vicksburg Lane project.

The evaluation of Plymouth’s financial standing came as the city prepares to issue $3.295 million in bonds to purchase land for the Northwest Greenway. In 2006, Plymouth voters approved the issuance of $9 million in bonds to acquire land for the Northwest Greenway and preserve open space. This is the city’s third and final issuance of bonds for this purpose.

More information on the city's financial health.