Fitch Ratings Upgrades the City’s Bond Rating to “AA-“ from
“A+”. Following a recently completed rating review, Fitch Ratings has
upgraded the City’s bond rating one notch to “AA-“ with a stable outlook.
A rating of “AA-“ is just three notches below the highest available bond rating
of “AAA”. The City requested a bond rating from Fitch Ratings in
preparation for an upcoming sale of City bonds. The rating upgrade to
“AA-“ from “A+” reflects the City’s adequate expenditure flexibility, solid
reserve levels, and elevated but moderate long-term liability burden.
Fitch believes the City is well positioned to withstand the challenges
associated with periodic moderate economic declines. "Click Here" to
review Fitch Ratings full press release report.