Showing posts with label bond rating. Show all posts
Showing posts with label bond rating. Show all posts

Wednesday, November 19, 2014

ROCKVILLE RETAINS AAA BOND RATING

Moody's and Standard and Poors have reaffirmed Rockville's AAA bond rating. The reaffirmation was related to Monday's sale of General Obligation Bonds by the city. In announcing their decision, both agencies cited the city's "conservative fiscal management, its strong policies and practices, the city's ample reserve levels, and its low debt burden," according to City Manager Barbara Matthews.

The rating means that financing for improvements to the city's Civic Center and the Rockville Swim Center will proceed as planned. Water, sewer and stormwater improvements will also be funded by the bond sale.

Raymond James & Associates had the winning bid Monday, offering a 2.69% interest rate.

The agencies did express concern about the city's water and sewer funds, Matthews said.