The City of Mankato has maintained its AA bond rating despite the budgetary challenges presented during the COVID-19 pandemic. What’s more, this year’s interest rate of 0.90 percent is the lowest ever compared to other rates throughout the City’s history.

Proper management, budget flexibility and a strong credit rating contributed to Mankato’s recent bond rating. Bonding is done on an annual basis to help with cash flow and to avoid any potential challenges that may arise.