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Moody’s affirms Oklahoma City’s AAA bond rating, revises outlook to stable
Moody’s Investor Service cited Oklahoma City “management’s ability to navigate challenging financial times” in revising its outlook to stable for the City’s top-notch bond rating.
Moody’s affirmed the City of Oklahoma City’s Aaa rating in a report issued Thursday, revising last year’s negative outlook to stable for 2019. It’s the ninth year in a row OKC achieved the highest rating.
The reaffirmed bond rating from Moody’s, and the City’s AAA rating from Standard and Poor’s, will be reviewed before the 2019 general obligation bond sale. That bond sale will include funding for the Better Streets, Safer City infrastructure investment program.
An improved economic climate and the City’s operating budget surplus during the last fiscal year were among factors that led to the strong rating and stable outlook.
“Our improved outlook and Aaa bond rating are the product of many years of the City Council and staff’s disciplined and thoughtful financial management,” said City Manager Craig Freeman. “We know that’s the foundation of the trust we’ve earned from our residents, and that’s why we work so hard to protect their investments.”
The Moody’s report puts Oklahoma City in an elite group of major American municipalities with the highest possible rating. It allows the City to sell bonds at lower interest rates and spend more on streets, bridges, sidewalks, trails, park improvements and more.
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