City of Chanhassen
7700 Market Blvd
PO Box 147
Chanhassen MN
55317
952-227-1100
Fax: 952-227-1110
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City of Chanhassen Receives Reaffirmation of
Highest Bond Rating of AAA from Standard & Poor's
September 1, 2011
The City of Chanhassen received a reaffirmation of its AAA bond rating from Standard & Poor's, a provider of independent credit ratings. This rating reflects, "The City's stable financial operations, very strong reserves, and 'strong' financial management assessment (FMA)." A financial management assessment of "strong" indicates financial practices are strong, well imbedded, and likely sustainable. The AAA rating is the highest rating offered by Standard & Poor's, and only 15 cities in the entire State of Minnesota have this rating. This is the second reaffirmation of this rating the City has received since being upgraded to AAA in 2009.
The City Council established a goal to provide financial stability and the resources necessary to exercise financial stewardship, implement best practices, and utilize long-term financial planning tools to ensure that Chanhassen residents are receiving excellent public services. This bond rating meets this goal of strengthening the city's financial position.
Click HERE to view the Standard & Poor's Rating Summary for the City of Chanhassen in pdf format.
For more information, contact Todd Gerhardt, City Manager, City of Chanhassen, 952-227-1119 or email at tgerhardt@ci.chanhassen.mn.us
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