Improved rating expected to lower borrowing costs and maximize taxpayer dollars

The City of Camden has received a credit rating upgrade from Moody’s Ratings, reflecting the City’s continued financial strength, disciplined management, and steady economic growth.

In practical terms, the upgrade means Camden is now viewed as a lower-risk borrower. As a result, the City is positioned to secure lower interest rates when financing capital projects, reducing long-term costs and delivering significant savings for taxpayers.

Moody’s upgraded the City’s issuer and combined utility revenue bond ratings from A1 to Aa3. The agency also assigned an initial A1 rating to the City’s Installment Purchase Revenue Bonds associated with City Hall and public safety projects. This Aa3 rating places Camden in the upper tier of municipal credit ratings and reflects the City’s strong financial position and stability.

The improved rating may also reduce or eliminate the need for bond insurance, lowering transaction and issuance costs. It can also strengthen investor confidence, increasing demand for Camden’s bonds, helping the City achieve more favorable financing terms.

“This upgrade is a direct reflection of the discipline and long-term planning our team has put in place,” said City Manager Matt DeWitt. “It allows us to stretch every dollar further, delivering the projects our residents need at a lower overall cost while continuing to provide the infrastructure and services they expect.”

The Camden City Council continues to invest in critical infrastructure, public safety, and long-term community needs while maintaining sound financial practices that support sustainable growth.

To view Moody’s official release on Camden’s credit rating upgrade, visit:
https://ratings.moodys.com/ratings-news/463356