By: Diane Benjamin
https://onlinelibrary.wiley.com/doi/pdf/10.1111/1468-0416.00029
Fitch does have Normal at AAA, did Normal pay to get that rating?
Moody’s doesn’t have Normal at AAA:
https://finance.yahoo.com/news/normal-town-il-moodys-assigns-230707753.html
This story is based on the $2 million debt Normal recently refinanced instead of paying it off.
QUOTE:
RATING OUTLOOK The stable outlook incorporates our expectation that the town’s financial position will remain robust and that long-term leverage will remain above average but not grow materially. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATING-Material tax base growth and improvement of resident income indices-Moderation of long-term leverage. FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATING-Weakening of operating reserves or liquidity-Growth in long-term leverage. LEGAL SECURITY: The town’s GOULT debt including the current issuance, is secured by the town’s full faith and credit pledge and a dedicated property tax levy unlimited as to rate or amount.
Congrats Normal! The Town’s ability to tax you out of your house is why they have a high credit rating.
Re-elect any incumbents? Why?
Read the story, it claims ISU’s credit rating is Baa2.
Now you know the truth about their AAA credit rating.
The title should be “Normal purchased their AAA rating.”
No doubt this was done to give Koos and his ass-kiss incumbents something to campaign about. Now they will look stupid bragging about the AAA score they purchased.
Only if you readers spread the truth
Koos and Reece run up massive debt by taking out loans and swiping the taxpayer credit card, then make the minimum payments, and want a cookie.