Local government

The city of Woodbury and Washington County each got a financial boost in recent weeks.

Both local governments saw their credit rating bumped from Aa1 to Aaa, the highest municipal bond rating assigned by Moody’s Investors Service. The city and county already have AAA ratings from Standard and Poor’s, another rating house.

"What’s the big deal?" some may wonder.

Well, city and county officials say, the higher bond rating should mean lower interest rates when they borrow funds for infrastructure or other big projects. Of course, they add, that means fewer taxpayer dollars being put toward interest payments.