Standard and Poor’s credit rating agency has upgraded the City of Lafayette’s General Obligation Bonds to a AA+ rating which speaks to the City’s stability and ability to meet financial obligations. In 2012 Lafayette also received a AAA rating for Water Enterprise Fund Bonds. According to the bonding financial advisory, it is very unique for a city of Lafayette’s size to possess such high ratings.
A strong credit rating of AA+ is a statement that the City, and its municipal bonds, are a solid, long-term investment option. Ultimately Lafayette will save money through lower interest rates on future borrowing or on the refinancing of existing debt as a result of the strong rating. The S&P rating process objectively reviews all aspects of Lafayette’s financial strategies and activities through a strict set of criteria focused on: management, year-to-year financials, long-term fiscal planning, economic development, and other City data.