Linden Neighborhood Conversation

Robin Davis
Director of Media Relations

Melanie Crabill
Communications Manager

News Date: September 17, 2019

City of Columbus Maintains Highest Possible Triple A Bond Rating

The City of Columbus has again earned credit ratings of Aaa/AAA/AAA -- the highest possible credit ratings from Moody’s Investors Service, S&P Global Ratings, and Fitch Ratings, respectively.  Bond ratings are a method of evaluating relative credit risk and are issued before a government can issue bonds to finance major capital projects and neighborhood improvements.  High ratings let the City borrow at lower interest rates, potentially saving the City millions of dollars in borrowing costs.  Columbus has received Triple A ratings from Moody’s and S&P Global Ratings since 1995 and from Fitch Ratings since 2006.

“The higher the bond rating, the lower the cost to our City’s residents,” said Columbus City Auditor Megan Kilgore.  “The City’s pristine credit ratings are a distinction that reflects Columbus’ fiscal strength and longstanding commitment to sound financial management.  Investors recognize we are an outstanding investment.” 

 “The City of Columbus is in a time of unprecedented growth,” said Mayor Andrew J. Ginther. “Receiving the highest bond rating from all three agencies means we can continue to invest in affordable housing and infrastructure projects that will create jobs and make our neighborhoods stronger.”

The City expects to issue approximately $310 million in bonds on October 2 and 3, 2019.  For the second year in a row, priority sale will be offered to individual buyers on Oct. 2 in denominations of $1,000 and $5,000 as part of the Invest in Us campaign.  The 2018 Invest in Us campaign resulted in over $5 million in bonds being sold to individual investors. 

More information on the City’s bond sale will soon be released.