Madison gets high bond rating, with caveat

Moody’s Investors Service gave the city of Madison an Aaa rating, its highest municipal rating for sound financial management and the overall economic condition.

However, Moody’s warns the rating could fall in future years if the city debt levels increase, the tax base weakens, or it experiences material declines in operating reserves and liquidity, including the finances of the Madison Water Utility, which posted a $6 million deficit last April, according to a Capital Times report.