CHAMPAIGN — For the sixth year in a row, Champaign will have lower interest rates for bonds than other downstate communities.
Fitch Ratings and Moody’s Investors Services again gave the city a triple-A bond rating, forecasting a stable local economy for the future and making the city the only one in downstate Illinois with top ratings.
Moody’s said it gave Champaign top marks in its Oct. 25 report because of its healthy tax base anchored by the University of Illinois, consistently healthy financial positions and modest debt burdens. A day prior, Fitch Ratings also gave the city a triple-A rating, citing the city’s “solid expenditure flexibility” and low debt burden. Fitch also said the city’s economic outlook is good.
Champaign Finance Director Kay Nees said the ratings are “a testament to the city’s long history of fiscal responsibility and strong financial policies.”