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The original item was published from 2/23/2017 2:13:00 PM to 2/23/2017 6:16:36 PM.

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Posted on: February 23, 2017

[ARCHIVED] Garden City's Bond Rating Upgraded to A+

Rating Services

"... we believe the City possesses the financial stability and flexibility to sustain identical ratings."

The S & P assessment cited the following factors:

  • Strong Budgetary Performance
  • Very Strong Budgetary Flexibility
  • Very Strong Liquidity
  • Adequate Debt and Contingent Liability
  • Strong Management

The ratings agency stated that the strengths sufficiently mitigated below-average economic characteristics and a large pension and OPEB Liability.  

A bond rating is a grade given to a bond that indicates its credit quality. Private independent rating services provide these evaluations of a bond issuer's financial strength or its ability to pay a bond's principal and interest in a timely fashion.

You can read the full report here
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