Gahanna has maintained its credit rating of "AA," and its financial outlook is considered stable, following a recent review by Standard & Poor's.

Gahanna has maintained its credit rating of "AA," and its financial outlook is considered stable, following a recent review by Standard & Poor's.

Finance director Angel Mumma said she learned last week that the credit-rating agency had reaffirmed the city's rating as AA and deemed the city's financial outlook as "stable."

"I am pleased that despite our declining revenues and the downturn in the economy that S&P continues to view the city of Gahanna's financial strength with high regard," Mumma said. "It is a testament to the professionalism and pride we take in managing the taxpayers' money."

A rating of AAA is the highest. The second-highest AA rating is defined as investment grade with a very strong capacity to meet financial commitments.

In determining the rating, S&P evaluated three areas of finances, including the local economy, local finances and management of those finances. Mumma completed a questionnaire addressing those areas and submitted it to S&P for review.

S&P's website states that credit ratings are forward-looking opinions about credit risk, and S&P's credit ratings express the agency's opinion about the ability and willingness of an issuer, such as a corporation or state or city government, to meet its financial obligations in full and on time.

Credit ratings also speak to the credit quality of an individual debt issue, such as a corporate note, a municipal bond or a mortgage-backed security and the relative likelihood that the issue could default.

mkuhlman

@thisweeknews.com