Press Release
City of Aspen receives top credit rating from Moody's for sales tax bonds
Rating upgraded from Aa1 to Aaa
Aspen, CO – The city of Aspen is pleased to announce that Moody’s Investors Service has upgraded the credit rating of the municipal government’s parks and open space sales tax bonds to Aaa, the highest possible rating. This achievement underscores the city’s financial health, robust sales tax revenue, and commitment to responsible fiscal management.
Previously rated Aa1, the upgrade to Aaa signifies exceptional creditworthiness and minimal credit risk. This top rating will enable the city to secure even more favorable borrowing terms for future capital projects that benefit Aspen’s parks and open spaces.
“The upgrade from Moody’s is a testament to the city’s sound financial practices and our dedication to preserving the natural beauty vital to our community,” said Pete Strecker, the city’s finance director.
Moody’s cited Aspen’s broad sales tax base, strong debt service coverage, and consistent revenue growth as key factors for the upgrade. This upgrade ensures that the city can continue to pursue these critical projects while maintaining a solid financial foundation.
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