In July, Maple Grove bonded for various road construction projects in the City and has once again been assigned the AAA credit rating – the highest rating possible – when evaluated by Standard & Poor’s Ratings Service. Only 22 cities in the State of Minnesota have attained this rating.
Numerous factors go into the rating process including economic diversity, financial performance, debt burden, and financial management practices. The City’s ability to implement timely and sound financial and operational decisions in response to economic and fiscal demands is a primary determinant of changes in credit quality. A superlative credit rating like the AAA Maple Grove has achieved, keeps the cost of financing capital projects as low as possible.
Jim Knutson, Finance Director