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The original item was published from 7/28/2021 3:32:00 PM to 8/1/2021 12:00:06 AM.

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Posted on: July 6, 2021

[ARCHIVED] Anna earns Aa2 ratings from Moody's

Anna earns Aa2 bond rating

The City of Anna has received an upgraded issue and general obligation limited tax (GOLT) rating from Moody's Investors Service. The city earned a rating of Aa2 from Aa3, and Moody's assigned the Aa2 rating to the city's $11.1 million General Obligation Refunding and Improvement Bonds, Series 2021.

"We are pleased to see Moody's recognizes that our management team is unified on where Anna is going and how to handle the historical growth and economic expansion," said City Manager Jim Proce. "Receiving an upgraded rating is an acknowledgment of the city's sensible financial management and will allow us to save taxpayers money while delivering more services and needed facilities as we grow."

The city's tax base has doubled since 2017, driven by strong demand for residential housing and supported by ample land availability, access to employment opportunities throughout the Dallas-Fort Worth metroplex, and healthy resident income indices.

Moody's said the rating reflects the city's maintenance of strong and stable operating reserves and manageable leverage at a time of very rapid economic expansion. Anna's operating reserves are likely to remain strong given the city's use of multi-year forecasting and a conservative formal reserve policy. The stable outlook reflects Moody's belief that the city will maintain strong credit fundamentals during a period of intense growth, given sound financial policies and limited debt plans.

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