City’s credit rating upgraded

Special to the NEWS

Standard & Poor’s, one of the world’s most well-known issuer of credit ratings, recently raised its long-term rating on the City of San Benito’s general obligations (GO) and certificates of obligation (COs) two notches from A to AA, reported the City of San Benito this week.

On S&P’s credit rating scale, which ranges from D to AAA, San Benito’s score reflects S&P’s belief that the City will maintain a “very strong” capacity to meet its financial commitments over the foreseeable future, read a media statement by the City.

Furthermore, this upgraded rating shows that credible credit agencies, such as S&P, like the City’s business model, and that the City is making wise fiduciary decisions and managing its funds in the best possible way.
S&P joins Fitch Ratings, which, in August 2020, also upgraded the City’s obligations to AA, the City’s statement concluded.

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