Omaha's bond rating returned to a stable outlook
Omaha, NE – Omaha's AAA rating has been returned to a stable outlook, four months after it was downgraded.
Omaha's bond rating was moved to a negative outlook last August, along with the ratings of 176 other local governments. Those bonds were tied indirectly with the federal government's credit rating. City officials were notified Wednesday that Moody's restored the stable outlook.
Mayor Jim Suttle says the move means Omaha has better credit, which will save taxpayers about six million dollars when future bonds are issued.
Suttle says keeping the bond rating at stable is contingent on a new fire contract being approved by the City Council. The council recently hired a representative to handle collective bargaining negotiations.
Omaha plans to borrow money in 2012 for several projects, including the combined sewer overflow mandate.