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Moody's Investors Service has upgraded the City of Oakdale's general obligation unlimited tax (GOULT) rating to Aa1 from Aa2. The upgrade to Aa1 reflects the city's very strong financial position, growing tax base with solid resident wealth and income, and moderate debt burden.
The last upgrade for Oakdale was in 2010 when we went from Aa3 to Aa2.
Oakdale is among the top echelon of cities in Minnesota that enjoy and benefit from this outstanding bond rating, which in turn reduces our cost of debt to further enhance our strong financial position.