Duluth Raised

Shields, Yvette
December 2004
Bond Buyer;12/1/2004, Vol. 350 Issue 32020, p39
Trade Publication
This article reports that Moody's Investors Service Inc. last week upgraded Duluth, Minnesota's $134 million of general obligation debt to Aa3 from A1. The upgrade impacts $134 million of outstanding debt as well as $5 million expected to price this week. Proceeds of the new-money sale will finance various sewer improvements and equipment acquisitions. The city, with a population of nearly 90,000, is located along the northern shore of Lake Superior. Its tourism revenue has been steadily increasing in recent years, with an estimated 3.5 million tourists visiting annually.


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