BRIEF: Stearns County credit rating improves

March 28--When Stearns County next sells bonds for capitol improvement projects, it will be getting a better interest rate because the county's credit rating has improved.

Moody's has upgraded the county's rating from AA2 to AA1, a rating described as "high quality" and "subject to very low credit risk." That rating is one step below the highest credit rating, AAA.

The county has plans in the next year or so to issue bonds to finance county building expansion and improvements, road projects and work on the Lake Wobegon Trail, said County Administrator Mike Williams.

Interest rates on those bonds will be lower with the better credit rating, making the debt payment lower and saving taxpayers money.

"It's akin to you getting a better rate on your auto loan or your home loan," Williams said.

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