Standard & Poor’s, upgraded the City of Sioux City’s bond rating one notch from AA- to AA. Standard & Poor’s upgraded the bond rating after the city advertised to sell four series of bonds. In a letter to the city, rating agency said it increased the city’s general obligation debt rating to AA ” based on the city’s maintenance of a very strong financial condition, boosted by available reserves outside the general fund. The outlook is stable.The ratings further reflect the city’s position as a regional economic and employment center, adequate wealth and income indicators and low-to-moderate overall debt burden with rapid principal amortization.
Published: September 6, 2009Posted in: News
