by: Diane Benjamin
Champaign City bond rating: Moody’s 12/6/13 Aaa
Peoria City bond rating: Moody’s 3/18/13 Aa2
Bloomington City bond rating Moody’s 10/28/13 Aa2
What does the bond rating mean?
Champaign is perfect.
Peoria and Bloomington are both less than perfect. Aaa is perfect, Aa1 is one step down, Aa2 is 2 steps down.
Each step down means the borrower pays a higher interest rate for credit. Maybe spending has a lot to do with it: http://blnnews.com/2014/01/20/comparing-bloomington-move-or-start-fighting/