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The City of Evanston has maintained its credit rating of AA+ from Fitch Ratings, and has received an Aa2 Rating from Moody’s Investors Service.
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 2016, the City is issuing $14 million in new general obligation bonds. The sale date for these bonds is September 7, 2016. The City is also issuing $8.1 million in general obligation bonds to refinance bonds issued in 2006. The City is projected to save $1 million 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 the City’s website at cityofevanston.org/credit-rating, as well as on each rating agency’s website: Moody’s and Fitch.