We continue to climb the charts! As of today, the City of Massillon’s Moody’s rating has been upgraded to an A2! Moody’s bond ratings are predictions of relative creditworthiness. What an incredible accomplishment. From Moody’s:
“The upgrade of the issuer rating toA2 reflects increases in the city’s financial reserves aided by growing income taxes
and the receipt federal aid. The strong reserves provide a buffer against potential fluctuations in economically sensitive
income taxes, the city’s largest revenue source. The rating also incorporates the city’s below median resident income
profile and full value per capita, and above median leverage.”
Read Moody’s full press release here: https://massillonohio.gov/wp-content/uploads/Rating_Action-Moodys-upgrades-Massillon-OHs-06Nov2023-PR_908386874.pdf