Administrative Services news
|Stockton Successful Remarketing of Water Bonds to Fixed-Rate||Department: Administrative Services|
Today, the City of Stockton, through the Stockton Public Financing Authority, successfully remarketed $55 million in water revenue bonds from a variable interest rate to a fixed-rate of interest for the term of the bonds. In the process, the Authority was able to secure rating upgrades from all three major rating agencies, including Standard and Poorâ€™s, which upgraded the ratings on the bonds four notches to A-/Positive from BB/Developing.
For additional information, please see the Full News Release.