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Rochester again receives high credit marks from Standard & Poor’s
Northstar Commons in downtown Rochester. (File photo provided by the city of Rochester communications bureau)
Northstar Commons in downtown Rochester. (File photo provided by the city of Rochester communications bureau)
Rochester again receives high credit marks from Standard & Poor’s
Listen to this articleThe city of Rochester’s financial outlook and bonding ratings remain strong after a recent review by Standard & Poor’s Global Ratings.
S&P assigned its highest short-term rating, SP-1+, to the city’s 2025 series II $171.3 million bond anticipation notes (BANS).
The city also received a AA- short-term rating for the 2025 Series III $30 million general obligation (GO) bonds and SP-1+ rating on outstanding GO and short-term debt.
High municipal bond ratings allow local governments to borrow money at lower interest rates and can provide insight into fiscal management practices. City officials say high ratings also send a positive signal to investors and developers.
“These strong ratings reflect the administrations commitment to responsible financial management and smart, strategic investments,” Mayor Malik Evans said in a news release. “We’re not just balancing budgets, we’re building a stronger Rochester.
“These ratings confirm that we’re putting in the work to keep the city on solid financial footing while continuing to invest in housing, economic growth and opportunities for all.”
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