Moody’s Gives City of Madison Top Rating, Cites “One of the Natio

September 20, 2006

Madison – Moody’s Investors Service has awarded the City of Madison its top rating (“Aaa”), citing factors such as the City’s “strong and diverse” economy, according to Mayor Dave Cieslewicz. The Aaa rating allows the City to borrow funds at the lowest possible interest rates, minimizing the amount of taxpayer funds that must be used to pay debt service.

“This independent, non-political analysis is good news for Madison,” said Cieslewicz. “It strongly reaffirms that we are indeed blessed with ‘one of the nation’s strongest economies’. That said, we must never rest on our laurels. We must continue to be innovative, creative and aggressive in continuing to grow our economy, create jobs and compete in the global marketplace.”

Comments cited by Moody’s in announcing the top bond rating for the City of Madison included:

o “One of the nation’s strongest economies”

o “Growing employment base”

o “... [A] highly diverse economic base. High technology, software development, and bio-medical research have become a larger component of the city’s economy and continue to flourish.”

o “... [A] highly educated workforce helps to attract employers and create jobs.”

o “Strong fiscal oversight” by city leaders

Contact:
  • George Twigg, 266-4611