The City of Manitowoc received a credit boost in its credit rating, the Standard and Poor’s upgraded the City from A1 to AA-.
Manitowoc Mayor Justin Nickels spread the credit upgrade on social media on Monday morning by thanking the City’s Finance Department, the Department Heads, City Employees and the Common Council. The Standards and Poor’s is considered one of the Big Three credit-rating agencies, which also include Moody’s Investors Service and Fitch Ratings.
This higher credit rating should save the Citizens of Manitowoc a lot of money in the form of lower interest rates over the next few years.
