Wednesday, March 15, 2017
For the seventh year in a row, the City of Oklahoma City has earned the highest bond ratings possible from two of the nation’s most respected financial rating services.
The City’s general obligation bonds received a AAA rating from Standard & Poor’s and a Aaa rating from Moody’s Investor Service in reports released in March.
Strong financial policies and practices, high reserve levels and the City’s role as an economic center are three of the factors that led to Oklahoma City’s strong rating.
“Oklahoma City’s strong bond ratings are good news for taxpayers, especially in challenging economic times,” said City Manager Jim Couch. “Mayor Mick Cornett and City Council members provide great leadership in making sound financial decisions, which is an important factor in our bond ratings.”
The reports put Oklahoma City in an elite group of major American cities with the highest ratings possible. The strong ratings allow the City to sell bonds at lower interest rates. The savings allow the City to spend more on bond projects like streets, bridges, sidewalks, trails and park improvements.