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Moody’s Reaffirms Excellent Bond Rating for Sioux Falls

Yesterday, Moody’s Investor Service announced an updated bond rating for the City of Sioux Falls. This is a formal and necessary step before the planned bond sale for the proposed City Administration Building can take place. Moody’s assigned the City a bond rating of Aa2, which is consistent with previous sales tax bond issues. Out of 22 possible ratings on Moody’s scale, there are only two ratings above the City of Sioux Falls’ rating.

The City Council has taken every action to effect the bond sale, and the City of Sioux Falls is authorized to sell the bonds at any time after October 1. Unless the courts advise us that we cannot legally proceed, the intention is to sell bonds in October. No official date for selling the bonds has yet been set.