Fishers receives rare AAA credit rating

FISHERS, Ind (WISH) – City of Fishers has received a rare distinction that will add projects and save taxpayers money.

Sounds of construction can be heard across Fishers. While it’s visible at city hall, these intersections will soon undergo changes.

Crews will add roundabouts to State Road 37 and change the 116th Street and Hoosier Road intersection. These projects will cost a lot less after Fishers was named the only Indiana city with a AAA credit rating.

“I was pleased that we have been able to earn that distinction, but somewhat dismayed that we were the only ones that had that particular honor,” Fishers resident Joshua Walker said.

For both projects, the city will bond $12 million each. With the AAA rating, instead of AA+, the city will save $550,000 dollars on each project in interest alone.

“It is nice because we are doing a lot of projects here in Fishers, and I think it makes it really great that we’ll have more money to put into things,” Fishers resident Judy Burke said.

Standard and Poor’s gave Fishers the upgrade, and said in its report the population increase and ability to pay off debt played into the improvement. Less than two percent of all U.S. cities have a AAA rating.

“It sends a message to anyone who would want to do business with the city of Fishers that we are really good stewards of the taxpayer dollars,” Mayor Scott Fadness said.

City officials said the savings won’t go to new projects. Instead, less money will need to be taken in taxes.

This is an achievement both officials and neighbors are proud of after becoming a city a year and a half ago.

“If there’s things that we’re doing that they ought to be emulating, then they should get with the program,” Fishers resident Joshua Walker said.