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San Antonio To Maintain Top Bond Rating

 
Posted July 25th, 2014 @ 11:33am

  Your property tax money will continue to fund needed projects around the city, instead of going into some banker's pocket as interest, because San Antonio's AAA general obligation bond rating has been re-affirmed by the three major bond rating agencies.

  San Antonio remains the only city in the USA with more than a million people to have it's bond rating at the highest possible level from the three agencies, Standard & Poor's, Fitch, and Moody's.

  An AAA ratings means the city can sell general obligation bonds at the lowest going interest rate.

  There had been concerns that the health care costs of for the police and fire department, and the super expensive downtown streetcar proposal might prompt the agencies to rethink the AAA bonds, but Mayor Ivy Taylor says the city's dynamic economy, and the fact that the police and fire associations are working with the city on a compromise on he health care issue, helped convince the agencies to maintain the rating.

  "Strong financial management coupled with our diverse local economy, rich history, and culture make San Antonio a truly unique big city in America," Taylor said.

  The AAA bond rating is seen as the crowning accomplishment of City Manager Sheryl Sculley, who was named the #1 most powerful person in San Antonio in a Newsradio 1200 WOAI survey earlier this year.

 

 

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