Moody's Rating Report
04/13/2017

On April 11, 2017 Moody’s Investors Service assigned the City of Sanger an A1 rating for its upcoming 2017 bond issue.  According to Moody’s “Obligations rated A are judged to be upper-medium grade and are subject to low credit risk.”  The $9,320,000 in bonds will be used primarily to expand and improve the wastewater treatment plant and collection system.  The city council has been planning and studying this project since 2011. Construction will begin in the next few weeks.  The city is proud to receive such a high rating from Moody’s.  According to Moody’s they based their rating on the following strengths; A trend of growing reserves, an expanding tax base due to growth, and location in the Dallas Metro.  Moody’s also commented that “the city is expected to remain strong due to conservative fiscal management as well as continued revenue growth.”  The Mayor and City Council remain committed to meeting the City’s infrastructure needs with the least amount of impact on the taxpayer as possible.  Follow this link for the full report from Moody’s.

 

Mike Brice, Sanger City Manager