Green Bay Reporter

The City of Green Bay has received a reaffirmation of its Aa3 rating from Moody's Ratings for both its overall financial health and General Obligation Unlimited Tax (GOULT) bonds. Alongside this, Moody's has upgraded the city's financial outlook from stable to positive as of March 6, 2025. This change reflects confidence in Green Bay's robust financial management and expanding economy.

Mayor Eric Genrich commented on the development, stating, "This positive outlook from Moody's demonstrates the City's dedication to responsible spending and smart economic growth strategies. Every day, we work to make Green Bay stronger and more secure for all who live here, and this latest analysis from Moody’s – an independent, objective arbiter of financial health – indicates the progress we’ve made.”

Moody's cited several reasons for the positive outlook:

- Economic Center: Green Bay is a significant economic hub in northeastern Wisconsin with a diverse economy encompassing manufacturing, transportation, warehousing, healthcare, and education.

- Strong Finances: The city maintains a healthy fund balance and strong cash flow projected to continue into 2025. In 2023, the available fund balance was approximately 45% of total income.

- Manageable Debt: Long-term debt remains at a reasonable level expected to stay around 200% of revenue despite planned borrowing. Fixed costs are anticipated to remain below 15% of revenue.

The positive outlook suggests potential future upgrades in credit ratings if Green Bay continues to maintain an available fund balance over 40%, a liquidity ratio above 60%, and keeps long-term debt near 200%.

For further information or inquiries:

Michael Bergman

Communications Director

Cell: 920-934-0826

Email: michael.bergman@greenbaywi.gov