New York, January 18, 2023 -- Moody's Investors Service has assigned a Aa3 issuer rating to the City of Watertown, MN. The issuer rating reflects the city's credit quality and ability to repay debt and debt-like obligations without consideration of any pledge, security, or structural features. Concurrently, Moody's upgraded the city's general obligation unlimited tax (GOULT) ratings to Aa3 from A1. This action concludes a review that was initiated on November 3, 2022 in conjunction with the release of the US Cities and Counties Methodology. The city has approximately $21 million in outstanding debt.
The full press release can be found here.