Bond Rating

The City receives its bond rating from Moody's Investor Services. In September of 2004, the City's rating was upgraded from A3 to A2. In October 2010, the rating was upgraded to A1. The A1 rating reflects the City's consistent maintenance of ample operating reserves, modestly-sized but growing tax base, and above-average debt levels with rapid principal amortization.

In 2017, S&P Global Ratings assigned its 'AA-' rating to Grand Rapids, Minn.'s series 2017A general obligation (GO) street reconstruction bonds. This is a positive step increase in the City's previous bond rating. The 'AA-' rating reflects the City of Grand Rapid's adequate budgetary performance, very strong budgetary flexibility, very strong liquidity, weak debt and contingent liability position, and strong institutional framework score.