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City finance staff says bond rating reinstated at AA
Summary
Assistant city staff reported that the city's bond rating was reinstated at the previous AA level after a review by S&P Global, and the staff credited finance staff work during the budget process.
Assistant city management provided a brief finance update to the council, reporting that the city's bond rating was reinstated at the prior AA level after the withdrawal. The assistant thanked Sarah Clark and the finance staff for their work during the budget process and S&P Global's interview process, and said the restored rating "gives us options moving forward" though it does not mean the city will immediately issue debt.
No formal action was required or taken on the rating during the meeting.
