Independent bond-rating agencies Standard and Poor's and Moody's Investors Service affirmed their high bond ratings for the City of Edina. Edina is one of just a few communities in the State with both "AAA" and "Aaa" ratings.
Moody's Investors Service in 2000 gave the City of Edina its highest rating, Aaa. In 2002, Standard and Poor's upgraded Edina's general obligation bond rating to AAA, the company's highest rating. The agencies have reaffirmed their ratings several times since, most recently in the fall of 2014.
What Ratings Reflects
The ratings reflect the agencies' view of the City's:
Participation in the Minneapolis-St. Paul metropolitan area economy and role as a first-ring suburb in the prosperous Twin Cities western suburbs
Continued strong financial performance with very strong fund balance levels on a dollar and percent of expenditure basis
Evidence of continued strong management practices
Manageable debt burden with a rapid amortization schedule (See the "Edina Debt Profiles")
The bond rating upgrade helps to ensure that future Edina debt will be issued with the lowest possible interest expense and cost to the taxpayer.