Our privacy policy has changed. By using this site, you agree to the Privacy Policy and Terms of Use. Dismiss

Additional Update on Cudahy Borrowing and Bond Ratings

April 17, 2014

Press Release:

Additional update on the City of Cudahy Bond Ratings and City Borrowing for improvements.

On the evening of Tuesday April 15, 2014, the Common Council approved the final sale and resolutions of 2014 Water and Sewer System Revenue Bonds and Storm Water System Revenue Bonds. This sale and approval, allows the City to move forward on a plan to provide infrastructure, equipment and capital improvements in the City of Cudahy. These efforts are part of an overall financial plan updating providing for various road improvements, sewer improvements, infrastructure improvements, building improvements, and equipment for the city as a part of the overall plan.
Recently, Moody’s Investors Service and Standard & Poor’s rating agencies provided a financial review of the city and the impending borrows. Standard and Poor’s affirmed the AA-/stable rating for the City of Cudahy’s General Obligation debt, A+ / stable rating for the Cudahy Water & Sewer Utility, and the AA- / stable rating for the Cudahy Storm Water Utility. Moody’s Investors Service also provided ratings for the City of Cudahy. Moody’s affirmed the Aa3 rating assigned to the City’s General Obligation debt. Tonight, the Common Council was informed that Moody’s Investors Service has affirmed the A1 rating for the Storm Water Utility, and a issued a one-notch downgrade to the Water and Sewer Utility from A1 to A2.
“While I am disappointed with the downgrade by one of the rating services, the recommendations that would push the ratings back up are goals of my administration. The agency is looking for sustained expansion of the utilities customer base (which we are trying to do with our development and redevelopment efforts), and growth and maintenance of the utilities financial liquidity,’ stated Mayor John Hohenfeldt. “The change to the rating criteria and methodology have not only affected our city, but communities like the city of Milwaukee and other cities have faced the same most recent downgrades.” My administration and the Common Council collectively will continue to invest in the aging infrastructure of our community in a prudent manner.

Mayor John Hohenfeldt
4/16/2014

Community Watch

» Franklin condo fire sends one woman to the hospital 4/27

» Franklin police holding self-defense seminar for women May 7 4/27

» Sport Shorts: April 28, 2016 4/26

» Franklin water rates could increase by 7 percent 4/26

» Whitnall gets new school district superintendent 4/26

» New Franklin track christened with Saber invite wins 4/26

» Oak Creek girls track wins third straight outdoor invite 4/26

» Franklin celebrating Arbor Day with saplings and city cleanup 4/25

» Kayla's Playground closed April 26 4/25

» Initial Reaction Podcast: Previewing NFL Draft with Rob Reischel and Nathan Tanguay 4/25

» Whitnall names Lisa Olson superintendent of schools Updated:  4/22

» Rooftop patio added to proposed expansion of the Bosch 4/21

» Oak Creek girls track and field team opens outdoor with two invite wins 4/21

» Initial Reaction Podcast: Realignment in area conferences and the status of girls/women's basketball in Wisconsin 4/21

» Pen and ink drawings going on display in May at Boerner Botanical Gardens 4/20

» Southbrook Church hosting prescription drug awareness event April 25 4/20

» Oak Creek boys track opens outdoor on strong note 4/19

» Oak Creek's big bats bring down Franklin softball team 4/19

» Oak Creek-Franklin School District's director of business reflects on career, looks forward in Q&A 4/19

» Greendale to celebrate groundbreaking of new fire station 4/19

» Oak Creek's big bats overpower Franklin softball team, 14-6 4/18

» Greendale 5K run/walk to raise awareness for kidney health 4/18

» Broadway star, Greendale native Sarah Pfisterer offers fundraiser concert for marching band 4/18

» Cleaning of Franklin rain garden scheduled for April 27 4/18

» Meijer customers given opportunity to co-star in television commercial 4/18

View All Posts Got a tip? Welcome rss

Advertisement

Advertisement

Local Business Directory

CONNECT    

Advertisement