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The City of Geneva has retained its Aa2 credit rating on general obligation debt, according to a Moody’s Investors Service report released March 29.
Moody’s report states “Geneva’s credit position is very good. Its Aa2 rating is slightly higher than the median rating of Aa3 for cities nationwide.” The report goes on to state that “the notable credit factors include a robust financial position, a very strong wealth and income profile, a solid tax base, and an exceptionally light debt burden.”
“Geneva’s responsible stewardship of taxpayer resources underscores our commitment to providing value to our citizens and businesses, and moreover, our strategic investment toward the essential needs our community expects and deserves,” said Mayor Kevin Burns. “I’m proud of our city council and professional staff for the hard work they have made to achieve this positive rating in a challenging environment.”