For the 12th year in a row, both 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 14 years now, and this is the 12th year in a row the City has received an Aaa rating from Moody’s.
In its rationale, Standard & Poor’s said Richardson’s “Triple A” rating was based on the City’s, “very strong economy, very strong management with strong financial policies and practices, very strong budgetary flexibility, strong budgetary performance, and very strong liquidity.”
In its rationale, Moody’s said, the rating reflects the City’s “large and affluent base that is anchored by a sizeable business district that supports its position as the second largest job center in the Dallas metropolitan area.” Moody’s also praised Richardson’s “solid financial management with a long and established history of strong operating performance contributing to favorable reserves.”
