Feb 20, 201704:24 PMBlog

City of Tacoma credit rating improves

Feb 20, 2017 - 04:24 PM

Moody’s Investors Service announced a ratings upgrade from  ‘A1’ to ‘Aa3’ on City of Tacoma’s $179.84 million in outstanding limited tax general obligation bonds.  

This action follows the ratings agency’s recent review of methodology utilized in rating U.S. local government general obligation debt.

“This is great news for Tacoma,” says City Treasurer Teresa Sedmak. 

“We’re pleased to receive this ratings upgrade,” adds Tacoma Finance Director Andy Cherullo, "and will continue to implement sound budgetary controls and oversight which will support the City’s sustained fiscal health."

The upgrade makes the ratings on Tacoma’s LTGO bonds equivalent to the ratings on its $14.12 million unlimited tax general obligation (UTGO) bonds, which are also ‘Aa3’.

            

Edit Module
Advertisement
Edit Module
Advertisement

About This Blog

Follow our blog for all the latest in local business news. To get the top local business news, subscribe to Daily Biz Briefs email newsletter. As a reader of this FREE email you get breaking business news each business day afternoon delivered right to your email inbox.

 

Feed

Atom Feed Subscribe to the Blog Feed »

Recent Posts

Archives

Categories