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Showing posts from July 8, 2018

Richmond Receives Enhanced Credit Rating Outlook

This week, Moody’s revised upward its credit rating outlook for the City of Richmond, from “stable” to “positive,” and reaffirmed the city’s credit rating of “Aa2,” citing strong trajectories in the city’s finances and growing economy. Standard & Poor’s and Fitch also both reaffirmed their “AA+” credit ratings, which are considered highly rated and are just one notch below “AAA,” the highest possible rating attainable.

Following the visit last month to New York by Mayor Stoney and city administration leaders, Richmond received reaffirmation of its credit ratings from all three agencies in connection with its upcoming general obligation bond issuance. Richmond has once again been designated as “AAA” for Operating Performance by Fitch Ratings.

“I am encouraged that just 15 months after presenting our key accomplishments and progress to these rating agencies, Moody’s has issued this revised, ‘positive’ outlook, reaffirming the city’s improved and solid financial standing and upward tra…