The City of Hilliard has once again received the highest possible rating from a major credit rating agency.
The City received a Aaa bond rating from Moody’s Investor’s Services. It has held this rating since 2019.
Because a significant function of a bond rating is to project the credit worthiness of an organization, the Aaa Moody’s rating means the City receives the best possible interest rates when issuing bonds for major capital projects. These low rates have been beneficial with bonds associated with The Well, the Wolpert site on Davidson Road, and the purchase of the former Chase Bank property in Downtown Hilliard.
“We take pride in these ratings, which are a confirmation of the City’s strong financial position, growth in income tax, and conservative financial policies and budgetary projections,” said Interim City Manager Dan Ralley.
The ratings reflect the City’s ability to meet its financial obligations in full and on time. Typically, ratings are expressed as letter grades that range, for example, from ‘AAA’ to ‘D’ to communicate the agency’s opinion of relative level of credit risk.
“Receiving this rating shows that the City of Hilliard continues to follow strong financial practices and responsibly manage the resources our residents place in our care,” said Finance Director Jennifer Kahle.
Ralley added that sound financial policies that result in Aaa ratings ensure the City can continue funding projects and programs that ensure Hilliard residents enjoy great quality of life amenities, safe neighborhoods, and the promise of continued economic health into the future.
Learn more about City finances here.
