Delaware, Ohio, Celebrates Economic Resilience with Moody’s Credit Rating Upgrade to Aa1

Delaware, Ohio is on the financial upswing as confirmed by a recent upgrade from Moody’s Investor Services. The city’s credit rating has been lifted from Aa2 to Aa1, placing it a notch below the top of Moody’s scale. This improvement is significant for the residents as it reflects a higher quality and lower credit risk associated with the city’s economic dealings.

One might be quick to cautiously explore what such an upgrade means, however, this is no small feat. An Aa1 rating inherently allows the city to more easily attract investment and negotiate better terms for future financing endeavors. It also typically translates to more competitive bids on city projects, due to the increased confidence in the city’s financial stability.

The factors contributing to this fiscal uptick were highlighted in a statement obtained by The

City of Delaware’s

own press release. Delaware’s strengthening economy, population growth within the Columbus metro area, and sound financial operations all played a significant role. Moody’s expressed particular praise for the city’s prudent budgeting practices.

In parallel to the credit rating enhancement, the city has also been decoratively acknowledged with the Auditor of State Award with Distinction, a recognition less than 4% of audited entities receive. This award further stamps the city’s commitment to “clean” financial reporting and sound fiscal practices. Moreover, it allows Delaware to demonstrate publicly their dedication to fiscal responsibility and effective planning strategies.

“These recognitions are a testament to the City of Delaware’s commitment to fiscal responsibility, transparency, and planning,” City Manager Paul Brake told

City of Delaware’s

press office. He credits the combined efforts of the City Council, the administration, and the Finance Department for these accomplishments and the strong financial foundation that is sure to benefit the community at large.

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