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The original item was published from 12/17/2018 3:07:01 PM to 2/4/2019 10:50:44 AM.

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City of Midland News Release

Posted on: December 19, 2018

[ARCHIVED] City of Midland Receives Credit Rating Upgrade

Moody’s Investors Service has upgraded its rating of Midland’s long-term issuer and general obligation limited tax (GOLT) score from Aa2 to Aa1. The Aa1 rating is the second-highest designation possible on Moody’s index. Moody’s rated this outlook as stable.

Moody’s cited several factors in the decision including:
-Strong City management;
-City’s financial stability despite volatility in the oil market;
-Continued global interest and investment in the Permian Basin; and
-City’s modest debt levels.

Earlier this year, the City received a AA+ rating from Standard & Poors (S&P) and a AAA rating from Fitch on their General Obligation (GO) bonds.


Media Contact: Pam Simecka, Finance Director (432) 685-7210

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