(Feb. 1, 2016) - For the sixth year in a row, 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 an AAA rating from Standard & Poor’s and an Aaa rating from Moody’s Investor Service in reports released in January. Strong financial policies and practices, high reserve levels and a stable and diverse economy are three of the factors that led to Oklahoma City’s strong rating.
“Oklahoma City’s high bond ratings are good news for taxpayers and are a testament to our conservative financial and debt management practices,” said City Manager Jim Couch. “Mayor Cornett and City Council members work hard to protect our bond ratings by continuing to make sound budgetary decisions.”
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.
Other factors that contributed to Oklahoma City’s continued high rating include:
• Oklahoma City’s role as a regional economic center
• Low unemployment rate
• History of voter support
• Moderate debt levels
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Media Contact: Kristy Yager
297-2550 / 863-2831
kristy.yager@okc.gov
