Moody’s Investors Service Assigns Aa2 to Oak Creek, WI’s $2.7M GO Bonds

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NEW YORK, November 21, 2014 --Moody's Investors Service has assigned a Aa2 rating to the City of Oak Creek's (WI) $2.7 million General Obligation (GO) Refunding Bonds, Series 2014B. Moody's maintains the Aa2 rating on previously issued long-term GO debt and MIG 1 rating on previously issued short-term GO debt. The city's GO debt is secured by city's GO unlimited tax pledge. Post-sale the city will have $84.8 million in GO debt outstanding. Proceeds from the bonds will refund a portion of the city's outstanding 2012B notes to extend debt repayment given the notes were structured with full repayment due in one bullet maturity in 2015.