OKLAHOMA CITY (KFOR) – The City of Oklahoma City’s bond rating and stable long-term outlook was affirmed by Moody’s Investors Service and S&P Global Ratings.
Moody’s issued a March 11 report, affirming the city’s AAA rating and stable outlook. S&P affirmed OKC’s AAA rating and stable outlook in a March 15 report, according to a city-issued news release.
The triple-A rating is the highest rating awarded by each agency. Oklahoma City has achieved the top rating for 11 straight years, according to the news release.
“It’s a true testament to the wisdom of the Mayor and City Council’s careful approach to financial management that the City maintained top credit ratings during the most challenging year in memory,” said City Manager Craig Freeman. “The ratings agencies recognize the strength of our financial management practices across the organization. We’re grateful that residents get the most out of every tax dollar they spend.”
The ratings are used to put a price on bonds that city officials sell to fund the bond package included in the Better Streets, Safer City infrastructure investment program.
“The ratings keep Oklahoma City in an elite group of major American municipalities with the highest possible rating,” the news release states.