Columbus Maintains AAA Credit Rating
MEDIA RELEASE
For Immediate Release
May 24, 2013
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More Information:
John Ivanic, (614) 645-6798
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Columbus Maintains AAA Credit Rating
Columbus has again received the highest possible credit
rating from all three major rating agencies. Moody’s Investor Services, Fitch,
and Standard and Poor’s have reaffirmed the city’s AAA credit rating. Columbus
continues to be the only city of its size to enjoy the top credit rating from
all three agencies.
“Our AAA bond rating confirms that Columbus remains on solid
financial ground,” said Finance Committee Chair Priscilla R. Tyson. “By
maintaining our rating, we are able to save millions of dollars for taxpayers
when we finance important capital projects.”
The City of Columbus issues bonds to finance projects like
fire stations, safety equipment, road improvements, sidewalks, streetlights,
park improvements, and other capital needs. The city’s high credit rating
allows it to borrow at lower interest rates, saving millions of dollars in
borrowing costs.
“Columbus is unique among major cities in our careful
financial management,” said Councilmember Tyson. “We are grateful for the
prudent leadership of City Auditor Hugh Dorrian, and Council will continue to
work with Auditor Dorrian and Mayor Coleman to protect the investment our
taxpayers make in this great city.”
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