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The original item was published from 3/11/2016 3:02:00 PM to 4/1/2016 12:00:04 AM.

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Frederick News

Posted on: March 11, 2016

[ARCHIVED] Standard & Poor's upgrades The City of Frederick Credit Rating to AA+

The City of Frederick’s credit rating was upgraded from AA to AA+ on its general obligation debt outstanding from Standard & Poor’s (S&P) rating service.

MEDIA RELEASE


Standard & Poor's upgrades The City of Frederick Credit Rating to AA+

Frederick, MD – March 11, 2016: The City of Frederick’s credit rating was upgraded from AA to AA+ on its general obligation debt outstanding from Standard & Poor’s (S&P) rating service. This upgrade reflects a new record high as S&P joins Fitch Ratings and Moody’s Investor Service with a rating just one step below AAA.


The City of Frederick rating by agency (see attachment)


Mayor Randy McClement said, “I am very proud to achieve yet another upgrade in our City’s bond rating. This is a direct result of continued sound fiscal management practices which includes adhering to our financial management policies even when it was very difficult to do so. ”

S&P cites the City’s improved debt and liabilities positions and budgetary performance as the basis for the upgrade.

To view the complete report, go to http://www.cityoffrederick.com/index.aspx?NID=195


For additional information, contact Katie Barkdoll, Director of Budget and Purchasing for The City of Frederick at kbarkdoll@cityoffrederick.com.

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New Release with Ratings Chart
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