Moody’s Investors Service, (“Moody’s”) has upgraded the General Obligation Limited Tax (GOLT) bond ratings of 136 local governments in Montana, Oregon and Washington, including the City of Bothell. The City of Bothell’s credit rating was upgraded on two councilmanic bonds from Aa3 to Aa2, bringing all City bonds to the Aa2 rating.
“This reaffirms that the City uses sound fiscal management,” said Tami Schackman, Finance Director at the City of Bothell. “Like a consumer with a high credit score saves money when they finance a car, a City’s high credit rating saves taxpayers when the City borrows money.”
Moody’s global long-term ratings are forward-looking opinions of the relative credit risks of financial obligations issued by various types of organizations, including public sector entities. Obligations rated Aa are judged to be of high quality and are subject to very low credit risk. The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category.