News Flash Home
The original item was published from 5/14/2015 2:45:52 PM to 6/1/2015 12:05:02 AM.

News Flash

Frederick News

Posted on: May 14, 2015

[ARCHIVED] Moody's Upgrades The City of Frederick Credit Rating to Aa1 – Highest in History

The City of Frederick’s credit rating was upgraded from Aa2 to Aa1 on $175 million in general obligation debt outstanding from Moody’s Investors Service.

MEDIA RELEASE


Moody's upgrades The City of Frederick Credit Rating to Aa1 – Highest in History!

Frederick, MD – May 14, 2015: The City of Frederick’s credit rating was upgraded from Aa2 to Aa1 on $175 million in general obligation debt outstanding from Moody’s Investors Service. This upgrade reflects the highest rating in the history of the City.

Mayor Randy McClement said, “We are thrilled to receive the highest bond rating in history for The City of Frederick. This is a direct result of our economic development efforts and our responsible fiscal management policies. Our elected officials and staff have worked together to move the City in a positive direction and I’m very proud to be part of that team.”

The upgrade reflects the expansion of the City’s tax base due to major development within Fort Detrick and the biotechnology industry. It also incorporates the City’s sizable and diverse tax base, above average resident wealth base, healthy reserves, average debt burden mitigated by self-supporting enterprise debt, and elevated pension liability.

To view the complete report go to http://bit.ly/1cAAGuN.

For additional information, contact Katie Barkdoll, Director of Budget and Purchasing for The City of Frederick at kbarkdoll@cityoffrederick.com.

###

Facebook Twitter Email

Other News in Frederick News

FREDERICK_MAIN_LOGO_SEAL_BLUE (2)

OpenGov – Zoning Services and Vacant Property Registration

Posted on: February 29, 2024 | Last Modified on: May 4, 2022
Shookstown Road detour 2 27 24-Exhibit (002)

Shookstown Road Closure

Posted on: February 27, 2024
logo

Mayor O'Connor to call for closed session

Posted on: February 20, 2024

HPC Training Session, February 28, 2024

Posted on: February 16, 2024
logo

City of Frederick Budget Town Hall Meetings - 2024

Posted on: February 15, 2024 | Last Modified on: May 4, 2022
logo

Historic Preservation Commission (HPC) Site Visit on Thursday, February 8, 2024

Posted on: February 2, 2024 | Last Modified on: May 4, 2022

2024 Annual Tree Frederick Store Launches

Posted on: February 1, 2024 | Last Modified on: May 4, 2022
00-Title

7th Street - Road Closure Update

Posted on: January 22, 2024 | Last Modified on: May 4, 2022

Snow Emergency, January 19, 2024

Posted on: January 19, 2024
FREDERICK_MAIN_LOGO_SEAL_MD_BLUE

City To Issue Taxicab Permits

Posted on: April 28, 2023
342996062_744770860656397_8387910145342307932_n

City to conduct fire hydrant flushing

Posted on: April 26, 2023
FPD logo

2023 Frederick Running Festival

Posted on: April 20, 2023

Mayor O'Connor announces FY24 budget

Posted on: March 31, 2023
Department-Public-Works_BLUE

Temporary Closure of Shared Use Path

Posted on: March 15, 2023
3P9A2144

Mayor O’Connor appoints City Attorney

Posted on: December 27, 2022
FREDERICK_MAIN_LOGO_SEAL_MD_BLUE

Holiday Closures | City of Frederick

Posted on: December 22, 2022
FREDERICK_MAIN_LOGO_SEAL_MD_BLUE

Mayor O'Connor to call for closed session

Posted on: December 12, 2022
Donald Myers

FPD makes arrest in Weapons Complaint

Posted on: September 11, 2022

HPC public hearing canceled

Posted on: September 7, 2022

Independence Day service changes

Posted on: June 29, 2022

City to issue taxicab permits

Posted on: April 29, 2022
Water Report Ad-COF Updated 4-26-22

2021 City Water Report now available

Posted on: April 29, 2022
freecycle 2

Spring Freecycle event this Saturday

Posted on: April 11, 2022
FREDERICK_MAIN_LOGO_SEAL_MD_BLUE

HPC to hold site visits

Posted on: March 21, 2022

Sewer work to impact roads March 8-9

Posted on: March 7, 2022