SAN ANTONIO – The City of San Antonio’s financial performance remains stable and positive, according to bond ratings released recently by Standard & Poor’s, Moody’s Ratings and Fitch Ratings.
San Antonio officials said the city has some of the highest ratings of any major U.S. city. They remain unchanged from 2023, and a positive outlook provides additional information for lenders and investors.
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“The ratings come in anticipation of the sale of general obligation bonds, certificates of obligation and tax notes scheduled for the week of August 19, 2024,” the city said in a news release.
The ratings are broken down into three categories: stable, positive and negative. The following is how each reporting agency rated the city:
- Fitch - AA+ (Positive)
- S&P - AAA (Stable)
- Moody’s - AAA (Stable)
“Strong bond ratings directly benefit San Antonio residents,” Mayor Ron Nirenberg said in a written statement. “City Manager Erik Walsh and his team – with the support of City Council – have made these stellar ratings possible through strong fiscal stewardship, ensuring that San Antonio borrows at the lowest-possible interest rates and saving millions of dollars for residents each year.”
The city said its current financial performance and other related criteria could lead to a potential rating upgrade in the future.