City of Troy Sees Improved Credit Rating
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Troy’s credit rating is now the highest it’s ever been.
City leaders made the announcement at this week’s council meeting. The city’s credit rating rose from an A to an A+, think of it as the city’s financial report card. And the positive effects trickle down to the tax payers.
Not only will the city be able to pay off debt at a lower interest rate, but also save when moving forward with the largest road project in Troy’s modern history.
Jason Reeves, Troy Mayor said, “This allows us to borrow money at a reduced rate. Because also people look at these types things when they look at moving a business to a community so this is a non-biased opinion of your community that goes out in the world.”
Speaking of the multi-million dollar road project that will connect the areas of Oak Park, the Sportsplex and U.S. Highway 231, the mayor says they are finalizing the plans and intend to have it ready to bid in 30 to 45 days.
