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The original item was published from 3/24/2014 7:51:41 AM to 3/28/2014 11:36:19 AM.


City News

Posted on: March 24, 2014

[ARCHIVED] Lafayette’s municipal bonds upgraded to AA+ by S&P

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.

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