Moody’s Assigns Aa2 to City of Oak Creek, WI’s GO Bonds

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New York, March 12, 2018 -- Moody's Investors Service has assigned a Aa2 to Oak Creek, WI's $8.9 million Taxable General Obligation Refunding Bonds Series 2018A. Concurrently, Moody's maintains the Aa2 on the City of Oak Creek, WI's outstanding general obligation unlimited tax (GOULT) debt. Following the sale, the city will have $101 million of outstanding GOULT debt.

The Aa2 rating primarily reflects the city' sizeable, and expanding tax base, located near the city of Milwaukee (Aa3 stable); stable financial operations characterized by healthy reserves, and a moderate pension burden. The rating also reflects the city's restrictive revenue raising environment due to state imposed levy limits, and high debt and fixed costs.