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Pella’s Credit Rating Has Recently Risen

Posted: Friday, March 7th, 2014 at 5:57 am
Author: KNIA/KRLS News - Justin Webster

The City of Pella just approved a $3.2 million bond measure for their upcoming Indoor Pool renovation, and part of the preliminary process is to get a credit rating from Moody’s, so that lenders know your current financial situation when bidding on the contract. Pella already had an A1 rating, which according to City Administrator Mike Nardini is the third best level you can be at. After Moody’s evaluation, Pella was elevated to a double A rating which is one level below the U.S. Government. Nardini adds that many members of the city staff have worked tirelessly over the years to improve it’s financial standing, and they feel very rewarded to see this positive upgrade.