Mooresville Maintains Strong Financial Reputation with Latest Bond Ratings
The Town of Mooresville’s issuer bond rating was maintained at AAA by Moody’s, which also maintained the town’s Aa1 rating on its outstanding limited obligation bonds (LOBs). The town’s proposed $3.7M Limited Obligation Bonds Series 2025A and proposed $11.5 million Taxable Limited Obligation Bonds Series 2025B received Aa1 ratings by Moody’s.
Standard & Poor’s (S&Ps) Global Ratings assigned the AA long-term rating to Mooresville Public Facilities Corporation, N.C. series 2025A and series 2025B limited obligation bonds. S&P also affirmed its AA+ rating on the town’s outstanding general obligation (GO) debt and an AA rating on its outstanding appropriation debt.
“Strong ratings indicate strong fiscal management and financial health, and we are pleased to maintain high bond ratings from Moody’s and S&P rating agencies in 2025,” says Town Manager Tracey Jerome.
According to a statement by Moody’s, “The AAA issuer rating reflects the town’s growing economy in the Charlotte Metropolitan area, reflected by a 32% increase to its tax base following revaluation in 2024, ongoing growth in sales tax revenue, and a robust trend of construction and permitting activity. The rating also reflects the town’s strong financial position that will be sustained by prudent fiscal management and fund balance policies.”
[RM1]looking at this with fresh eyes, I think these two paragraphs should be swapped …
[WR2]but then is it weird to have 2 quotes back to back?
[RM3]I don’t think so. I think that paragraph that i’m suggesting to be moved ties a nice bow on the first two paragraphs.
[WR4]done!
Previous
