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Bond Rating

On July 18, 2014, the City of Elk River's bond rating was affirmed at AA+ by the independent bond rating agency Standard & Poor's. This rating is for the City's general obligation bonds.

Standard and Poor's Financial Management Assessment (FMA) views the city's financial practices and policies as very strong, having flexible liquidity, and supported by a very strong management and a strong economy. 

A few highlights of the report are as follows:

  • Strong economy
  • Very strong budgetary flexibility
  • Very strong liquidity   
  • Very strong management conditions
  • Strong budgetary performance
  • Very weak debt and contingent liability profile

The strong bond rating helps to ensure that future Elk River debt will be issued with the lowest possible interest expense and cost to the taxpayer. The strong rating also provides opportunities to refinance outstanding debt at lower interest rates.

Please read the complete report from Standard and Poor's.