The city received a AA/Stable rating from S&P, citing the city's strong economy, proximity to
City Finance Director
Smith said the AA rating is higher than the city anticipated it would receive.
"You have to keep in mind our financial history is essentially five years old," he said. "We thought a AA minus or even an A plus would be good. It is beyond great news to get this rating the first time out of the stable."
Smith previously told
Factors like a city's debt, how it manages its funds and how well-known the city is can impact how high a bond rating the municipality receives, Smith said. How well a city is doing also affects how much interest the city has to pay back to investors, he said.
With the rating attained, the city can now move forward with municipal bonds being sought to finance parks, roads and other needed infrastructure projects.
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