Chesterfield gets Moody's highest bond rating

The city of Chesterfield said Friday that Moody's Investors Service has awarded the city with its "Aaa" rating after having completed a review of Chesterfield's proposal to take advantage of lower interest rates by refinancing some existing parks debt.

The city said in a release that Chesterfield is the only city in Missouri to attain that rating from Moody's.

The rating is a measure of the quality and safety of a bond, based on the issuer's financial condition and indicates the likelihood that a debt issuer will be able to meet scheduled interest and principal repayments. The Aaa rating is highest, or carries the least risk, and D is the lowest (worst) rating.

The city said the recent successful closure of the Chesterfield Valley Tax Increment Financing District is an example contributing to the city's solid financial standing.

Moody's Investors Service is an independent, national bond-rating company.