The City of Cedar Hill is proud to announce that Moody’s Investors Service (“Moody’s”) upgraded its rating on the City’s obligations to Aa1 from Aa2. Rating agencies such as Moody’s analyze the City’s financial data and benchmark performance against other peer cities.
In issuing the rating, Moody’s noted Cedar Hill’s growing economy and “a consistently strong financial position because of conservative budgeting and adherence to formal fiscal policies.”
“The upgraded rating from Moody’s reflects the leadership of the City Council in setting a long-term vision for the community and being good financial stewards of the City,” says City Manager Greg Porter.
A higher credit rating makes the City of Cedar Hill’s bonds more marketable, because investors view them as a safer investment. This in turn lowers interest rates for the City and saves taxpayers money when the City issues debt for capital projects.
In March the City issued General Obligation Bonds to continue work on voter-approved bond projects, including street and drainage improvements, park improvements, and the new public library. The City also issued Certificates of Obligation for street, drainage, water and sewer system improvements.
In addition to the AA1 rating from Moody’s, the City maintains a AA rating from S&P Global. Find more information about the City of Cedar Hill’s budget and financial reports at cedarhilltx.com.