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CITY FINANCES
Scottsdale earns top marks in credit rating from various rating agencies
(J. GRABER/INDEPENDENT NEWSMEDIA)
The City of Scottsdale's credit rating was recently upgraded to Aaa.
Posted
The City of Scottsdale was recently given top marks for its credit rating from a trio of rating agencies.
According to a press release, Scottsdale had its Excise Tax Revenue Bonds upgraded from Aa1 to Aaa by Moody’s Rating Agency, which is the highest possible rating. The upgrade is a reflection of confidence in the city’s financial health and that the city meets Moody’s criteria for creditworthiness.
Fitch Ratings also affirmed the city’s AA+ rating on its Issuer Default Rating (IDR) and the Municipal Property Corporation’s (MPC) excise tax revenue bonds. The rating outlook on both was upgraded from stable to positive, according to the press release.
Scottsdale also holds an AAA rating from S&P Global Ratings on all of its outstanding bonds and obligations, according to the press release.
