City earns highest marks with AAA ratings
Getting an A is an excellent mark, but for a city a triple-A rating is even better. Bloomington earned straight A’s in 2018 just as it’s done for 15 years running. Few cities achieve top rankings for fiscal responsibility, credit worthiness and other financial factors. (The City’s modest debt burden is a credit strength similar to the standards used to calculate a high personal credit score.)
The AAA ratings came from Moody’s Investors Service, Standard & Poor’s (S&P) and Fitch Ratings. Triple AAA ratings are the highest awarded by these agencies. Bloomington is among 37 cities in the U.S. with three triple-A ratings.
“Bloomington is an exceptionally strong and stable credit. Management is proactive and has a long track record of producing balanced budgets and surplus results,” S&P said in a RatingsDirect report. “Additionally, its debt and liability profile is strong, which is somewhat unusual for Minnesota municipalities.”
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