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Georgetown celebrates AAA rating and approves $207.5 million in bond and certificate sales
Summary
Council marked Standard & Poor's affirmation of Georgetown's AAA credit rating and approved multiple bond and certificate issuances totaling about $207.5 million; city staff reported strong investor interest and competitive bids.
The Georgetown City Council celebrated Standard & Poor's affirmation of the city's AAA credit rating and approved a package of bond and certificate sales that staff said will fund streets, parks, public safety equipment, utilities projects and other capital work.
Jennifer Ritter, a financial adviser with Specialized Public Finance, told the council that AAA is the highest bond rating and noted S&P's practice of comparing municipal credits to sovereign ratings. "It is the highest bond rating that any city can have," Ritter said. "In fact, you're higher than the U.S. government—S&P rates the U.S. at AA+." She said only about 38 cities nationwide and the state of Texas hold an AAA rating.
City staff and outside advisors said the AAA rating…
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