On Oct. 3, Moody's Investors Service released a rating report confirming the city of Cuyahoga Falls' Aa2 rating to $25.7 million of Outstanding General Obligation (Limited Tax) (GOLT) debt, according to a city news release.
This includes assigning an Aa2 rating to an issue of $6.8 million of General Obligation (Limited Tax) Various Purpose Refunding Bonds. The Moody's report highlights the city's "healthy financial position supported by strong management and conservative budget assumptions, and positive operating results."
"The Moody's rating report not only confirmed our strong bond rating but highlighted the talent and strength of our management team in our Finance Department," stated Mayor Don Walters. "Our city delivers the best of both worlds being situated between two large employment centers, Akron and Cleveland, while maintaining and growing a healthy, sustainable housing market."
"The confirmation of our bond rating reiterates our strong financial performance while providing ample opportunities for fiscally sound cost savings," said Finance Director Bryan Hoffman. "I am pleased with the results and am proud that the report highlights the mayor and his administration's continued commitment to delivering responsible financial management for the residents and businesses of Cuyahoga Falls."