City Manager news
|SP Upgrades Water Bond Ratings||Department: City Manager|
February may be a short month on the calendar, but the City of Stockton packed a lot of great financial news into just a few days. On February 27, Standard Poor’s (SP) bond rating agency upgraded the ratings on Stockton’s water system bonds from A- to A and from BBB to A- and assigned an outlook of “Stable” for the ratings of all the bonds. Higher ratings for bonds issued by the City means that those purchasing the bonds are investing in bonds that are a stronger investment. When a personal credit score increases, individual consumers can get credit more easily at lower interest rates. Better bond ratings improves the City’s “credit score” and reduces interest costs should the City need to issue bonds in the future to support water projects.
For more information, please see Full News Release link below.