Westerville News & Public Opinion

Westerville retains its AAA bond rating

The city of Westerville once again has earned the AAA rating from Moody's Investor Services and Standard & Poor's.

This marks the fourth consecutive year the city has received the AAA ratings, the highest achievable ratings for government entities.

Having a AAA bond rating helps the city to obtain the lowest possible interest rates when issuing bonds, as AAA-rated are considered high investment-grade bonds.

A strong local economy, sound fiscal management policies and a responsible approach to debt has helped the city again secure the highest ratings, said city Finance Director Lee Ann Shortland.

The reports issued by the bond agencies list Westerville's financial-management strategies as part of their basis for the AAA rating. The S&P report also noted the strength of the city's tax base through the economic downturn.

The full reports from both agencies are available on the city website, westerville.org/finance.

-- Jennifer Nesbitt