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City treasury reports $7.5 billion outstanding debt and $2.12 billion in cash and investments; ratings remain strong
Summary
The Department of Treasury reported about $7.5 billion in outstanding debt (largest share to Aviation and Watershed), net cash and investments of roughly $2.12 billion, an average portfolio yield near 4.1%, and continued top ratings including the city's first Fitch AAA for some credits and improved airport ratings.
Courtney Knight, head of the Treasury Debt and Investments unit, told council the city’s outstanding debt portfolio stands at approximately $7,500,000,000, with about 48% tied to the aviation enterprise and 35% to the Department of Watershed Management. The City issued a small ‘‘baby bond’’ of…
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