Strongsville Receives Top-Notch Bond Rating

Strongsville is one of 13 cities in Ohio with Aaa bond rating from Moody’s Investors Service. 

“This (rating) is a big plus for the city because it helps us with our debt restructuring and gives us a lower interest rate,” said Councilman Ken Dooner, who also heads up the city’s Finance Committee. 

The top-notch rating was reaffirmed for the city recently after Finance Director Joseph Dubovec met with firm representatives in Chicago.  

Mayor Thomas Perciak congratulated Dubovec on the successful meeting. 

“This was his first time out of the box at Moody’s and he did an exemplary job at representing Strongsville,” Perciak said.  “To come up with a Aaa rating when many governments are under pressure—I couldn’t be more elated,” Perciak added.  “We should be very proud of this.”

The system of rating securities was originated by John Moody in 1909.

The purpose of Moody's ratings is to provide investors with a simple system for relative creditworthiness. There are nine symbols of creditworthiness, from Aaa (the highest rating with the lowest credit risk) to C (the lowest rating, with the highest credit risk). Moody’s also uses numbers from one to three in each rating classification.