SAN ANTONIO – The City of San Antonio’s financial performance remains stable and positive, according to bond ratings released recently by Standard & Poor’s, Moody’s Ratings and Fitch Ratings.
San Antonio officials said the city has some of the highest ratings of any major U.S. city. They remain unchanged from 2023, and a positive outlook provides additional information for lenders and investors.
“The ratings come in anticipation of the sale of general obligation bonds, certificates of obligation and tax notes scheduled for the week of August 19, 2024,” the city said in a news release.
The ratings are broken down into three categories: stable, positive and negative. The following is how each reporting agency rated the city:
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Fitch – AA+ (Positive)
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S&P – AAA (Stable)
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Moody’s – AAA (Stable)
“Strong bond ratings directly benefit San Antonio residents,” Mayor Ron Nirenberg said in a written statement. “City Manager Erik Walsh and his team – with the support of City Council – have made these stellar ratings possible through strong fiscal stewardship, ensuring that San Antonio borrows at the lowest-possible interest rates and saving millions of dollars for residents each year.”
The city said its current financial performance and other related criteria could lead to a potential rating upgrade in the future.
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