Mostly Cloudy
79°FMostly CloudyFull Forecast

Woodstock gets credit rating upgrade

Published: Monday, June 2, 2014 4:34 p.m. CDT

WOODSTOCK – Standard & Poor's has boosted the city of Woodstock's credit rating.

The city's rating was moved from AA- to AA, according to a news release from the city.

S&P based the upgrade on Woodstock's strong financial management and balance sheet, according to the release.

The ratings help determine interest rates on debt issuances and allows the city to refinance current debt for better rates.

Woodstock's "overall strong financial position, as evidenced by the credit upgrade, puts the City in a favorable position for commercial and industrial growth," the release said.

–Shawn Shinneman

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Reader Poll

What part of fall are you looking forward to most?
Pumpkin-flavored items
Football
Changing leaves
Halloween
Other