News Flash Home
The original item was published from 2/23/2017 1:11:23 PM to 2/23/2017 2:13:22 PM.

News Flash

Community Spotlights

Posted on: February 23, 2017

[ARCHIVED] Garden City's Bond Rating Upgraded to A+

Rating Services

In February, Standard & Poor's raised Garden City's long-term rating from 'A' to 'A+', with a stable outlook.  The ratings giant based the upgrade on the City's property tax base recovery and proactive budgetary management.

"... we believe the City possesses the financial stability and flexibility to sustain identical ratings."

The S & P assessment cited the following factors:

  • Strong Budgetary Performance
  • Very Strong Budgetary Flexibility
  • Very Strong Liquidity
  • Adequate Debt and Contingent Liability
  • Strong Management

The ratings agency stated that the strengths sufficiently mitigated below-average economic characteristics and a large pension and OPEB Liability.  

A bond rating is a grade given to a bond that indicates its credit quality. Private independent rating services provide these evaluations of a bond issuer's financial strength or its ability to pay a bond's principal and interest in a timely fashion.

You can read the full report here
Facebook Twitter Email

Other News in Community Spotlights

GCU copy

SIGN UP FOR GARDEN CITY UNVERISTY TODAY

Posted on: February 23, 2024
tree program news item 2024

GARDEN CITY TREE PRGORAM

Posted on: February 22, 2024
Budget Workshop News item

COUNCIL BUDGET WORKSHOP CALENDAR

Posted on: January 10, 2024
warming center news item

WARMING & CHARGING CENTERS INFORMATION

Posted on: January 13, 2024
snow emergency info News item

SNOW EMERGENCY INFORMATION

Posted on: January 13, 2024
Garden City Buzz

CHECK OUT THE LATEST EDITION
OF THE BUZZ

Posted on: February 1, 2022