Wright County’s bond rating upgraded to AA+

WRIGHT COUNTY, MN – The Wright County Board heard from Bruce Kimmel of Ehlers, the county’s bond consultant, that the county’s bond rating has been upgraded to AA+ by Standard & Poor’s. The county sought a new bond rating in conjunction with refinancing some existing bonds. Kimmel said the county has been rated by Moody’s in the past, but switched to Standard & Poor’s because S&P has revised its rating system to better evaluate municipal bonds. The AA+ rating is the second-highest rating possible, and is a two-step jump from the county’s previous rating, Kimmel said. It will allow the company to receive better interest rates on bond issues. The true interest rate on the bond refinancing approved Tuesday was 2.542 percent.