ROCHESTER, N.Y. — S&P Global Ratings gave the City of Rochester its highest short-term bond rating, citing strong fiscal management but warning of possible pressure on budget reserves.
The top rating applies to more than $217 million in general obligation bond anticipation notes. S&P also affirmed the city’s double-A minus long-term rating.
“This bond rating reflects sound financial practices within City government, the increasing value of the city’s tax base, and other positive economic indicators,” said Mayor Malik Evans. “This is a clear indication that our strategic investments to accelerate business growth, empower residents, and expand generational wealth in every neighborhood are working.”
The report praised Rochester’s ability to pay debt and low market risk. However, S&P said ratings could change if reserves fall below the city’s policy minimum.
For more information on Rochester’s credit rating, visit the City of Rochester’s website here.
Rochester earns top short-term bond rating from S&P Global on $217 million in notes WHEC.com.
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