City Receives Positive Bond Rating

MOODY'S ASSIGNS Aa1 BOND RATINGS TO CITY OF CHESTERFIELD

City to issue $10.27 million in debt. Moody's Investors Service has assigned Aa1 ratings to the City of Chesterfield's (MO) issuance of $10.27 million in debt service, representing strong financial confidence in the City. Proceeds will be utilized to finance various improvements to the City's parks and the Chesterfield Valley Athletic Complex, including the construction of an amphitheater and parking facilities. This issue represents the second phase of parks projects following the initial improvements financed with debt issuances in November of 2008. $5.97 million of the new issue will be Build America Bonds. The remaining $4.3 million of the issue will be non-taxable Certificates of Participation.

Additionally, Moody's has affirmed the Aaa rating on the city's $21.4 million of outstanding general obligation unlimited tax debt, and Aa1 rating on the city's $54.6 million annual appropriation backed debt, including the current offerings. The Aaa rating is the highest of any municipality in the State of Missouri. Moody's assigned the rating due to the "City's substantial and wealthy tax base in St. Louis County, with a growing regional economic role, healthy financial operations with ample reserves, and modest debt burden with no significant future borrowing planned.