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The original item was published from 3/20/2019 9:58:26 AM to 3/21/2020 12:00:02 AM.

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Posted on: March 20, 2019

[ARCHIVED] City Recognized for Strong Moody Rating and Excellence in Financial Reporting

PSA

City Recognized for Strong Moody Rating and Excellence in Financial Reporting


Contact: Pete Strecker, Finance Director, 970-920-5007, pete.strecker@cityofaspen.com

Aspen, Colorado – March 20, 2019 – The City of Aspen is pleased to share its annual comment from Moody’s Investor Services which highlights the City’s strong Aa1 rating, a mark that is noticeably higher than the average Aa3 rating assigned to other US cities.  The Moody’s report noted Aspen’s healthy operating revenues, low debt obligation and considerable cash reserves as rationale for Aspen’s strong rating.

This upgrade in rating is very timely as the City is thinking of going out to the market again for financing.  Overall, this notice reflects a positive outlook for our future potential investors,” said Finance Director Pete Strecker.

In addition, the City of Aspen just received The Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA).  This certificate of achievement, given for 2017, is the highest form of recognition in the area of government accounting and financial reporting and its attainment represents a significant accomplishment by Aspen staff and management.

“One of the City’s primary daily focuses is on our fiscal health, economic vitality, and responsible asset management,” said Sara Ott, Interim City Manager.  “This recognition of our financial strength reflects the dedication and feedback from our residents as our financial planning aims to adhere to our community values.”



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