City of Kannapolis

City Bond Rating Upgraded

March 23, 2015

KANNAPOLIS, N.C. – Moody’s Investors Service has upgraded the City’s revenue bond rating for water and sewer projects from A2 to A1. This means the City will pay less interest as the bonds are paid off. It is also an indication of the City’s strong economic health.

Moody’s cited the City’s growth in new businesses and homes, the improving economy, the expansion of the North Carolina Research Campus and the campus’ positive impact on the City’s economy as well as the City’s potential to attract new businesses in the future as reasons for the upgrade in the bond rating.

Annette Privette Keller

Director of Communications

704-920-4311 (o) / 980-406-2790 (c)

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