MINNEAPOLIS (AP) -- Two out of three isn't bad.
A day after a New York bond house downgraded the city's rating and another maintained its top rating, a third, Fitch, gave the city a perfect AAA.
Fitch's decision Tuesday followed a similar one by Standard and Poor's on Monday. Moody's Investor Services, downgraded the city one level on Monday, marking the first time since 1963 Minneapolis had less than a perfect rating.
The agencies rate bond issuers' financial stability, projecting their ability to make interest payments to investors who buy the bonds. The better the rating, the lower the interest rate for the city.
Minneapolis plans to issue $102 million in bonds next week to raise money for a variety of projects.
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