Prairie Village credit rating increased to Aaa
Prairie Village becomes only one of four 'Aaa' cities in Kansas
Moody's Investors Service announced that it has increased the credit rating on the City of Prairie Village's general obligation bonds to 'Aaa', its highest rating category. Prairie Village becomes only one of four 'Aaa' rated cities in Kansas.
Moody's recently rated Prairie Village's general obligation bonds 'Aa1', its second highest category, due to the City's "prudent management," "financial flexibility" and an "easily affordable" debt burden. The rating change from 'Aa1' to 'Aaa', effective May 1, 2010, came as the result of a Moody's recalibration of municipal bond ratings across the United States to allow direct comparisons of credit quality across corporate, sovereign and municipal debt markets.
Mayor Ronald Shaffer commented on the rating announcement, "We are extremely proud to be in such esteemed company in Kansas and around the country."
Other Kansas cities carrying a Moody's 'Aaa' rating include Overland Park, Leawood and Lenexa.