The three major credit ratings agencies affirmed previous assessments of the city's bonds. Standard & Poor's rated the city's 2014 general obligation and water and sewer revenue bonds AAA, which is the highest tier of credit worthiness and indicates that the city has "extremely strong" capacity to meet its financial commitments.
Fitch rated the bonds AA+ and Moody's gave the general obligation bonds an Aa1 rating and rated the water and sewer bonds Aa2. The Fitch and Moody's ratings differ slightly from the highest category and indicate "very strong" credit worthiness.
The ratings are critical in determining the city's ability to borrow money. Generally speaking, the stronger the rating, the lower the interest rate available.
"Please recognize that each of the rating agencies values and respects our commitment to disciplined financial practices," City Manager
Financial Services Director
The city also plans to issue about
The assessed value of the city's overall property tax base also is up so far this year by about 2.1 percent.
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