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Standard & Poor's upgrades Broken Arrow bond rating to AA, city says savings expected
Summary
City staff announced that Standard & Poor's upgraded Broken Arrow's rating from 'AA-' to 'AA', a move officials said should lower borrowing costs and broaden investor interest for upcoming bond sales.
City finance staff told the council that Standard & Poor's has upgraded the city's bond rating from a double-A negative to double-A.
"We got notification last Wednesday that Standard & Poor's upgraded us from a double a negative to a double a," the finance representative, identified as Cindy in the transcript, said. City officials said the change will likely reduce borrowing costs and expand investor interest for future bond offerings.
The City Manager said the administration will proceed to use updated ratings information as it develops the 2026 bond package and noted that the city also plans to use the Thrive newsletter and other outreach to inform residents about the city's finances and upcoming bond-related events.
City staff said they will respond to several follow-up questions from Standard & Poor's to finalize a rerating and that additional documentation will be provided to markets when the administration moves forward with bond issuances.
