Press release from the Allen County Board of Commissioners:
Moody’s Assigns A1 Rating to Maplecrest Road Bonds
Moody’s Investors Service announced it has assigned an A1 rating to Allen County’s $25 million bond to fund the Maplecrest Road extension project.
In a statement, Moody’s said, “Assignment of the A1 rating reflects the limited tax pledge, the County’s large and diverse tax base, average wealth levels, satisfactory financial operations characterized by stable reserve levels and alternate liquidity available in the Rainy Day Fund, and moderate debt burden.”
Bid letting for the Maplecrest Road project is scheduled to take place in November. The project will extend Maplecrest from Lake Avenue to Adams Center Road at Indiana 930 in New Haven. It features construction of 1.5 miles of new 4-lane roadway section with curb and gutter and four new bridges. Additionally, the project includes design of new storm sewers, sidewalks, traffic signing, and three at-grade intersections, including two traffic signal designs.