The City of Flagstaff sold $15.86 million in general obligation bonds today to fund voter approved projects including the final fire station, the emergency communication radio system, and a portion of the street/utility projects. In light of the excellent credit ratings from Standard and Poor’s and Moody’s (AA and Aa2, respectively), the City was able to get a 2.12% interest cost. This is the best rate the City has achieved on any general obligation bond. “This is fantastic news for our … [Read more...] about Bond Sale Providing City Best Interest Rate
general obligation bonds
Flagstaff’s S&P and Moody’s Ratings High
The City has received ratings of AA/Aa2 from Standard and Poor's and Moody's Investors Service, respectively, on the general obligation bonds the City will issue in several weeks.. These ratings are the second-highest category available, one category lower than “AAA/Aaa” and are reflective of the City’s strong financial position, particularly in today's economic environment. These are the same ratings the City has held for the past three years. Both agencies site the City’s strong reserve … [Read more...] about Flagstaff’s S&P and Moody’s Ratings High
