Monday, July 30, 2012
Olean's Investors Service gets an Upgrade
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.