Standard & Poor’s (S&P) recently upgraded the City of Lacey’s rating from ‘AA+’ to ‘AAA’, both for the general obligation bonds it has previously issued, and for its long-term rating, according to an article on the city’s website. The “AAA” is S&P’s strongest credit rating.
An entity that receives the ‘AAA’ rating from S&P is seen being able to meet its financial obligations due to its strength. It is also seen as stable.
S&P gave Lacey the rating because it feels that the city has strong management. This includes a policy of investment that safeguards the principal by placing its retention above any potential returns, and handling capital planning for the long term by identifying sources of funds for upcoming projects. S&P also liked Lacey’s minimum reserve policy.
The credit agency also praised the city’s budgetary performance, which it calls “very strong,” a comment it also applied to Lacey’s budget flexibility. S&P attributes this to the availability of financial reserves, which it believes should remain strong, at least in the medium term. Lastly, the city handles its debts well, and will repay 84% of what it owes inside 10 years. Cities that earn a rating like this could use Logo Design to incorporate it into official documents.
Standard & Poor’s Financial Services LLC is part of S&P Global, and publishes financial analysis and research on commodities, bonds, and stocks. It is one of the most important credit rating companies in the world.
Get a Free Quote for Logo Design
Location
8410 30th Ave NE
Unit A
Lacey, WA 98516
Get Directions →
Phone
Hours
Mon: 9:00 - 5:00
Tue: 9:00 - 5:00
Wed: 9:00 - 5:00
Thu: 9:00 - 5:00
Fri: 9:00 - 5:00
Sat: Closed
Sun: Closed