Madison Reporter

Moody’s Investor Service evaluated the economy of the City of Madison and found it to be "stable and diverse," according to the City of Madison. 

"They analyze budgets, financial operations, debts and pensions and cash balances," said the City of Madison. 

The rating Madison received, AAA, is the highest out of nine possible long-term ratings, according to Moody's website. 

It comes at a time when the economy is fluctuating due to the COVID-19 pandemic. 

"The COVID pandemic of the past roughly 18 months has increased economic concerns nationwide, and it is very gratifying that Madison continues to receive its AAA Bond Rating. This rating acknowledges our city’s long-term stability, commitment to sound financial management, investment in sustainability and resilience and the strength of our cultural and business climate," Mayor Satya Rhodes-Conway said in a city press release. "It has not been easy, but I know that my office, city staff and the common council will continue to work cooperatively to serve Madison by exercising prudent fiscal management." 

Moody’s pointed to four issues that could potentially have a negative impact on the rating in the future: Large increases in debt and debt service, deterioration of Madison’s tax base, declines in reserves and lessened funding for utilities, according to the City of Madison.