General Obligation Bond Rating Index (Council Key Result Indicator #4)
Measure Description/Definition
The index that quantifies the City's GO Bond rating is from both Fitch and Standard & Poors. It is a 10 point scale, with 10 being the highest available rating from each agency, which is also equivalent to a AAA.
Target Determination
A 9 is Equivalent to AA+ rating on a 10 point scale.
Analysis
The City currently possesses bond ratings from Fitch (AA+) and Standard & Poor’s (AA+) that are one level below the highest AAA rating awarded by both firms. Bond ratings reflect a detailed analysis of a city’s ability to repay debt and include an assessment of the local-regional economy, the city’s overall administration, financial policies, and track record in managing their financial position over the peaks and valleys of the economic cycle. A consolidated numerical rating is presented as 9.0 on a scale of 1-10, with 10 being the best quality investment rating achievable.
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