The City of Santa Clarita was recently notified that its credit rating was upgraded to AAA, the highest rating a municipality can receive. Standard and Poor’s defines the AAA rating as: “Extremely strong capacity to meet financial commitments; the highest rating.” The upgrade is Santa Clarita’s third in the last five years.
When deciding upgrades, Standard and Poor’s looks at continuity of management of a city, strong availability of general fund reserves, a stable economic base, long-term fiscal performance, a balanced budget, sound fiscal practices, and fully funded future obligations such as Santa Clarita’s 100% funded retiree health care program.
Click here to view a copy of the Standard & Poor’s rating service summary. For more information, visit Santa-Clarita.com.
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