The City of Evanston has maintained its credit rating of Aa1 from Moody’s Investors Service and AA+ from Fitch Ratings.
The City issues general obligation bonds to finance a portion of its annual capital improvements plan and purchase major equipment with extended life-cycles. For 2015, the City is issuing $13.9 million in new general obligation bonds. The sale date for these bonds is October 21, 2015. The City is also issuing $11.4 million in general obligation bonds to refinance bonds issued in 2006. The City is projected to save $590,000 in interest costs through this refinancing.
As part of this issuance process, the bonds must be rated for their credit worthiness. Links to the summaries and full reviews conducted by the national ratings agencies on the City’s financial position and subsequent rating for these bonds can be found at cityofevanston.org/credit-rating.
Questions regarding the report should be directed to Martin Lyons at the City of Evanston at email@example.com or 847-866-2934.