MINNEAPOLIS — For the second consecutive year, the City of Minneapolis has received AAA credit ratings, the highest possible from all three major bond rating agencies: S&P Global, Fitch Ratings, and Moody’s. These ratings reflect assessments of the City’s financial health, creditworthiness, and revenue recovery.
During his 2026 budget address, Mayor Jacob Frey referenced the ratings while presenting a long-term fiscal strategy focused on investments in infrastructure and public programs. According to Frey, the ratings indicate the City’s financial management and ability to support future growth.
The AAA ratings place Minneapolis among a limited number of municipalities nationwide that have maintained top-tier ratings over multiple years. The City is scheduled to take bids for a $141 million bond issue on August 20.
Agency reports cited several factors contributing to the ratings.
Moody’s noted “very stable operations supported by strong financial management practices,” including multiyear budgeting and long-term capital planning.
Fitch Ratings highlighted a “high level of budgetary flexibility” and healthy general fund reserves.
City Chief Financial Officer Dushani Dye stated that the ratings reflect confidence in the City’s financial planning and reserve levels.
Additional information about Minneapolis’ credit ratings and the 2026 budget address is available through official City channels.
