Moody’s Assigns Aa2 to City of Oak Creek, WI’s GO Bonds, Ser. 2016C and DShare This +
Moody's Investors Service has assigned a Aa2 rating to the City of Oak Creek, WI's $17.6 million General Obligation Refunding Bonds, Series 2016C and $5.9 million Taxable General Obligation Refunding Bonds, Series 2016D. Moody's maintains the Aa2 rating on the city's general obligation (GO) debt. Post-sale, the city will have $97.8 million in GO debt outstanding.
The Aa2 rating reflects the city's sizeable tax base adjacent to the City of Milwaukee (Aa3 stable); above average wealth indices, stable financial operations resulting in maintenance of solid reserves, an above average debt burden with a large amount of debt subject to refinancing risk, and modest unfunded pension liabilities.