Moody’s Investor Services has reaccredited the city of Prairie Village with a Aaa bond rating, the highest issued by the company.
Members of the city’s administration team had expressed concerns that the continuing struggle over the country’s debt could have an impact at the local level, leading Moody’s to downgrade the city’s status.
“The Aaa rating is the highest available rating and reserved for the premier financially sound public entities,” says a Prairie Village news release. “The Aaa rating reflects the city’s sizeable tax base with above average resident wealth indices, healthy financial operations, and low debt burden.”
Moody’s upgraded Prairie Village from a Aa1 rating to Aaa in 2010. Only three other Kansas municipalities — Lenexa, Overland Park and Leawood — carry a Aaa rating from Moody’s.