MMSD Saves $4 Million With Strategic Bond Sale
(Milwaukee, WI) – Strong demand from investors pushed interest rates extremely low, 0.718%, resulting in a $4 million savings for the Milwaukee Metropolitan Sewerage District’s (MMSD) recent $27.7 million sale of General Obligation Sewerage System Refunding Bonds.
“This is great news for our taxpayers on several fronts. $4 million is a massive savings that would not have been realized without the District’s bond ratings and solid financial management,” said MMSD Commission Chair and West Allis Mayor Dan Devine.
Prior to the bond sale, Fitch Ratings reaffirmed MMSD’s ‘AAA’ rating.
S&P Global gave the District an ‘AA+’ saying, “Strong management, with good policies and practices …”. “We consider the district’s financial management practices strong under our FMA methodology, indicating financial practices are strong, well embedded, and likely sustainable.”
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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