SPEARFISH, S.D. – Moody’s Ratings has upgraded the rating of the City of Spearfish! Because of the financial position of the City and prudent use of debt, the City’s existing sales tax bonds have been upgraded from A1 to Aa2 and the overall issuer rating of the City was improved from Aa3 to Aa2.
The Moody’s ranking scale evaluates both long-term and short-term analysis of bonds to assess risk to the investor of the City not paying the required payments on the bond.
The better the rating of an issuer, the lower the interest rate the issuer will pay on future debt obligations. In addition, the existing debt is more attractive on the secondary bond market.
