Vancouver received a AA+ credit rating from Standard & Poor’s Ratings Services for its 2015 limited-tax general obligation and refunding bonds.
The city received the same rating for its Downtown Redevelopment Authority conference center project and its general obligation debt, according to a news release.
According to the release, the credit ratings “reflects (Standard & Poor’s) view of the city’s strong economy.
“In essence, a local government’s bond rating is the government equivalent of a personal credit score,” Vancouver Treasurer Carrie Lewellen said in the release. “The higher rating enables the city to access lower interest rates, and indicates to investors that we are a fiscally healthy organization.”
The bonds will be used to renovate four buildings in the West Barracks, as well as to refinance a portion of Vancouver’s debt.
