City’s bond rating upgraded

On Tuesday, Moody’s Investors Service announced it had upgraded the City of North Liberty’s bond rating to Aa2. The analysis cited the North Liberty’s growing tax base, strong population growth, above-average resident income and healthy financial profile.

The rating upgrade is vote of confidence from financial experts and allows the city to borrow funding for infrastructure projects at better interest rates.

Moody’s analysis noted that the city has “healthy operating reserves relative to budget” — a reserve of 41 percent of our main operating funds — driven by tax-base growth and “prudent budgeting.” Previously, the city held an Aa3 rating.