The Finch Formerly Known As Gold

15 March 2006

Fiscal fitness

Standard & Poor's has upgraded Oklahoma City's bond rating to AA+, the second-highest rating on the S&P scale, a testimonial, they said, to a "diverse, expanding regional economic base that serves as the state's economic engine." With this better credit rating, the city will presumably enjoy lower interest rates on future bond issues.

The S&P analysts pointed to conservative financial management, low debt levels, and a "manageable" capital-improvement program.

The city's property-tax base (although technically the counties levy the actual tax) has grown 28 percent in five years, to $29.16 billion.

Posted at 10:11 AM to City Scene

Just thought I'd throw in that the city sold $80 million worth of General Obligation Bonds this week; the estimated savings on interest comes to $400,000.

Posted by: CGHill at 2:02 PM on 21 March 2006