City of Bettendorf, Iowa

A premier city.

Moody Investors Service Assigns Aa1 Rating to Bettendorf

IMMEDIATE RELEASE:

 

DATE:  May 2, 2012

 

SUBJECT:  Moody Investors Service Assigns Aa1 Rating to Bettendorf

 

CONTACT:  Carol Barnes, Finance Director, cbarnes@bettendorf.org or 563-344-4461

 

 

BETTENDORF: The City of Bettendorf is happy to announce that on Tuesday, May 1, Moody's Investors Service reviewed and assigned a rating of Aa1 for the City of Bettendorf's General Obligation Bonds.

 

Bettendorf has maintained the Aa1 rating for three years.  The Aa1 rating reflects the city's sizable and growing tax base, sound financial operations, and significant flexibility to adjust tax levies and raise additional revenue.

 

Due to the refinancing of three of the bonds issued, the City has saved the citizens of Bettendorf $1,188,058.06 in future value savings.

 

The City is one step away from receiving the AAA rating, which is the highest a municipality can obtain. 

 

Proceeds of the 2012A bonds will be used to finance various city improvements, including streets, parks, and sewer infrastructure.