Standard and Poor's Global (S&P) today gave the City of Merriam the desired “AAA” credit rating. It’s S&P’s highest rating assigned and should translate to lower interest costs for the City when it issues $24 million in bonds for the new community center, in turn saving Merriam taxpayers thousands of dollars.
Bond ratings are one of the primary tools investors use when making decisions about purchasing bonds. The S&P rating implies the City’s credit risk is very low and it “has extremely strong capacity to meet its financial commitments.”
Merriam City leaders provided S&P analysts with information about the $24 million bond issue for the community center project and answered numerous questions about the City’s local economy, finances, and policies.
“We are extremely pleased to receive the ‘AAA’ bond rating,” Mayor Ken Sissom said. “It’s an accreditation of what we do on a daily basis. It confirms we are financially healthy, able to pay back debts, and have great financial management.”
When it last issued bonds in 2012, the City of Merriam received an “Aa2” credit rating with Moody’s Investor Service. The City’s current “AAA” rating is a two-score upgrade.
View Merriam’s complete S&P ratings report.
