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Sweetwater retains AA3 credit rating as finance staff readies year-end report
Summary
Finance staff told commissioners Moody's affirmed an AA3 rating and Standard & Poor's shows a strong rating; staff said year-end financials and a budget compliance note from the state will be presented at the August workshop.
City finance staff updated the Board of Commissioners on municipal finance matters, saying Moody’s completed a re-rating and Sweetwater retained an AA3 investment-grade rating. "Ours is AA 3, which is considered a prime, investment grade rating," staff said during the workshop, adding the rating supports borrowing for the planned community center.
Staff said the city’s Standard & Poor’s rating is also in a…
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