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.
Oklahoma City residents can expect to spend less on building streets and bridges, thanks to receiving the highest debt rating possible from Standard & Poor’s.
The move from AA+ to AAA puts the city into an elite group of the best municipal credits in the market.
“When it comes to economic news, this is as good as it gets,” Mayor Mick Cornett said Tuesday in a news conference at City Hall.
In these times, almost any good news is welcome, but getting more bang for one’s borrowed buck the city has a bond issue coming out next week is definitely a boon.