Good news for the city of Olean. They received word last week Moody's Investors
Service has upgraded the city bond rating to A1. It will mean a more favorable
interest rate for an upcoming long-term refinancing of the city’s $9.25 million
Bond Anticipation Notes. The improved rating in the city’s former A2 status,
assigned in 2011, will also have a positive affect on the city’s underlying
$25.6 million in outstanding parity debt.
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