City of Green Bay
GREEN BAY, WI (WTAQ) — The City of Green Bay has announced that Moody’s Ratings has reaffirmed its Aa3 rating for both the city’s overall financial health and its General Obligation Unlimited Tax (GOULT) bonds.
“AAA is kind of that platinum standard so we’re a few rungs below that,” said Green Bay mayor Eric Genrich. “But with the Aa3 rating; that’s a high quality, low risk rating.”
Moody’s highlighted several factors that led to the positive outlook:
- Economic Center: Green Bay serves as a key economic hub for northeastern Wisconsin. The city has a diverse economy with strengths in manufacturing, transportation, warehousing, healthcare, and education.
- Strong Finances: The city has a healthy amount of available funds and strong cash flow, which are expected to continue in 2025. In 2023, the available fund balance was about 45% of the city’s total income.
- Manageable Debt: Green Bay’s long-term debt is at a reasonable level and is expected to remain around 200% of revenue, even with planned borrowing. Fixed costs are projected to stay below 15% of revenue.
Additionally, Moody’s has changed the city’s financial outlook from stable to positive, effective March 6, 2025. This change shows Moody’s confidence in Green Bay’s strong financial management and growing economy.
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