Moody’s, S&P Affirm Oklahoma City’s AAA Bond Rating, Stable Outlook

Press release from the City of Oklahoma City:

April 3, 2020

Moody’s Investors Service and S&P Global Ratings have each affirmed the City of Oklahoma City’s top-notch bond rating and stable long-term outlook.

Moody’s affirmed the City’s Aaa rating and stable outlook in a March 25 report, and S&P affirmed its AAA rating and stable outlook the same day. The triple-A ratings are the highest awarded by each agency. It’s the 10th year in a row OKC achieved the highest rating.

“The Mayor and City Council’s priority of conservative financial leadership provides the foundation for these bond ratings,” said City Manager Craig Freeman. “In the face of economic uncertainty caused by COVID-19, we are appreciative of the rating agencies’ recognition of the strength of Oklahoma City.”

The ratings are used to price bonds that the City sells to fund the Better Streets, Safer City infrastructure investment program.

The ratings keep Oklahoma City in an elite group of major American municipalities with the highest possible rating. They allow the City to sell bonds at the lowest interest rates and spend more on streets, bridges, sidewalks, trails, park improvements and more.

This press release was produced by the City of Oklahoma City. The views expressed here are the author’s own.