JAMESTOWN, N.D. (NewsDakota.com) – The City of Jamestown received a significant boost to its financial standing as Moody’s Investor Services recently upgraded its credit rating from A1 to Aa3, officials announced at Monday night’s City Council meeting. This new rating, the fourth-highest on Moody’s scale, signals a substantial improvement in the city’s creditworthiness, with an Aa3 rating indicating high quality and very low credit risk.

John Lundby, Senior Vice President at Collier’s International in Bismarck, briefed the council on the updated rating, underscoring that the upgrade could enhance Jamestown’s ability to secure favorable terms for future financing and attract more competitive bids for city projects. The upgrade comes as the city continues to invest in critical infrastructure, including paving and pedestrian bridge improvements, and recent bond sales received strong interest from national bidders.

The council approved and authorized the issuance of a $5,375,000 Refunding Improvement Bond, Series AH, covering Paving District 24-41 and Parks Pedestrian Bridges District 24-21. Northland Securities of Minneapolis won the bid, purchasing the bond for $5,403,401.80 at an annual net interest rate of 3.291%.

In addition, the council approved a $3,321,000 Water Treatment Revenue Bond, Series 2024, issued to the North Dakota Public Finance Authority at a favorable annual interest rate of 1.5%.