Conservatively managed finances, strong annual
growth, and major commercial and residential developments are key
reasons Moody’s Investors Services recently affirmed Anoka County’s
strong Aa2 bond rating. The rating is a measure of the county’s
creditworthiness and determines what interest rate the county pays
on loans to fund major projects. Moody’s is one of the largest
bond-rating services in the nation.
The Moody’s report highlighted the county’s
rapidly growing tax base, prudent budgeting, and close proximity to
Minneapolis and St. Paul as important strengths. Moody’s analysts
expect the county to continue to experience strong commercial and
industrial growth given the “ample availability of appropriately
zoned property within the Metropolitan Urban Service Area (MUSA).”
Completion of the Northstar Commuter Rail line in late 2009 will
also fuel continued growth and development, according to Moody’s.
National bond underwriter Oppenheimer & Co. Inc. reports that the
Anoka County name is well-received in the tax exempt marketplace.
“Anoka County is viewed as not only a stable, but strong and growing
credit,” said Ralph McGinley, managing director of Oppenheimer’s
Minneapolis branch.
“We are extremely pleased with this strong bond
rating,” said Anoka County Board Chair Dennis Berg. “With the
favorable interest rates this bond rating makes available, Anoka
County will realize significant savings in the cost of the new
Sheriff’s Office and Regional Forensic Lab as well as improvements
at the Anoka County-Blaine Airport. Taxpayers will be the ultimate
winners with these savings.”
Only five of the 87 counties in the state have a higher credit
rating than Anoka County.
