Moody’s Assigns Aa2 to Oak Creek, WI’s GO Notes, Ser. 2016B

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City Updates | Finance Department | General |

Moody's Investors Service has assigned a Aa2 rating to the City of Oak Creek, WI's $6.2 million General Obligation Promissory Notes, Series 2016B. Moody's maintains the Aa2 rating on the city's general obligation (GO) debt. Post-sale, the city will have $99.6 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.