Bond agencies award OKC top ratingPublished: Tuesday, April 14, 2020 By: Justin Tinder Source: VeloCity
Reports from two of the nation’s most prominent bond rating agencies – Standard & Poors and Moody’s – have given the city of Oklahoma City their highest rating as they have for the past 10 years. Moody’s affirmed the City’s Aaa rating and stable outlook in a March 25 report, and S&P affirmed its AAA rating and stable outlook the same day.
Oklahoma City is one of a handful of cities to achieve an “AAA” rating from both agencies. By granting the AAA rating, bond rating agencies signal that they have as much faith as possible in these entities to honor the terms of the bond. In other words, they believe the city is in a very strong financial position.
The higher the bond rating, the lower the interest entities have to pay when borrowing funds – essentially making infrastructure projects cheaper. In statements sent out by the city, the agencies cited Oklahoma City’s “revenue flexibility,” “financial resilience,” and “strong financial policies and practices.”
Read the full story on VeloCityOKC.com.