Moody’s Investors Service Assigns MIG 1 to Oak Creek’s $20.5M 2014 GO Notes and Affirms Aa2 Rating

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May 14, 2014

NEW YORK -- Moody's Investors Service has assigned a MIG 1 rating to the City of Oak Creek's(WI) $20.5 million 2014 General Obligation (GO) Promissory Notes. Concurrently, Moody's has affirmed the Aa2 rating on previously issued long-term GO debt and MIG 1 rating on previously issued short-term GO debt. Post-sale the city will have $87.7 million in GO debt outstanding. The 2014 notes are secured by city's GO unlimited taxpledge. Proceeds from the notes will finance construction of a city complex that will include a city hall, fire station, and library.

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