For the 16th year in a row, both the Standard & Poor’s and Moody’s credit rating agencies have reaffirmed Richardson’s “Triple A” status, the highest possible rating available for credit worthiness. Richardson has held AAA status from Standard & Poor’s for 18 years, and this is the 16th year in a row the City has received Aaa status from Moody’s.
The City of Richardson sells bonds annually to fund large public projects, such as roads, water mains and other infrastructure, as well as large equipment for the Fire Department and Solid Waste Department. The bond sales allow the City to address immediate needs and manage financial resources in a way that balances current obligations with future benefits.
To attain “Triple A” status, the City must meet stringent fiscal performance and control standards across multiple factors, including financial stability, capacity to fulfill debt obligations, and economic conditions.
Full news release: Click here
