12/22/2008 — Master site admin
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Bond rating agency raises Katy’s credit ranking
Posted: 05/15/2009
Katy taxpayers got some good news May 11: A higher city bond rating that means lower costs when the city borrows money for new streets, drainage and other capital improvements.
Standard & Poor’s rating agency has upgraded the city’s “A” bond rating two notches to “AA,” city financial adviser Eugene B. Shepherd told City Council members at their regular meeting.
In an April 20 publication, analysts cited the city’s healthy fund balance, diverse tax base and “very strong” financial position.
“What that means is that the next time we go to borrow money, we should be able to borrow at a lower rate of interest,” Shepherd said. “That’s good news.”
Read More: http://www.chron.com/disp/story.mpl/nb/katy/news/6420525.html