To our professional staff, advisory committee members, volunteers, taxpayers and policy setters past and present go the credit. As a team, we have worked hard and though difficult times to carefully and deliberately manage our financial health. I know our community shares my pride in this Heart of the Triangle accomplishment. It's good to be Morrisville.
June 13, 2013
MORRISVILLE’S BOND RATINGS INCREASE TO AAA AND Aa1
MORRISVILLE, NC – Standard & Poor’s Ratings Services raised its rating on Morrisville’s general obligation (GO) debt one level to AAA. Morrisville was previously rated AA+. Moody’s upgraded Morrisville’s GO rating one level to Aa1, from Aa2. Both agencies report a stable outlook.
Standard & Poor’s shows the town’s assets as:
• Good access to the Research Triangle Park and existence within the strong, expanding regional economy of the Raleigh-Durham-Chapel Hill metropolitan statistical area (MSA);
• High wealth and income;
• Strong finances; and
• Low debt.
Moody’s lists the town’s strengths as:
• Sizeable and growing tax base with above average wealth levels;
• Low debt burden despite rapid population growth; and
• Healthy reserve levels protected by strong policies.
“We are proud to be the smallest municipality in North Carolina to have a AAA bond rating,” said Julia Ketchum, Senior Director of Business Management for the Town of Morrisville.
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Contact:
Julia Ketchum, Senior Director of Business Management – 919.463.6175
Stephanie Smith, Public Information Officer – 919.463.6207
