Moody’s Assigns Aa2 to Oak Creek, WI’s $15M GO Notes, Ser. 2015BShare This +
NEW YORK, May 01, 2015 --Moody's Investors Service has assigned a Aa2 rating to the City of Oak Creek, WI's $14.5 million Taxable General Obligation Promissory Notes, Series 2015B. Concurrently, Moody's maintains the Aa2 rating on the city's previously issued general obligation (GO) debt. Post-sale, the city will have $84.8 million in GO debt outstanding.
The Aa2 rating reflects the city's large tax base adjacent to the City of Milwaukee (Aa3 Stable); above average wealth indices; stable financial operations with solid reserves; elevated debt burden that is subject to moderate refinancing risk; and affordable pension liabilities.