best bond rating among nation's large cities
All three of the major bond ratings agencies have reaffirmed San Antonio's AAA bond rating, as San Antonio continues to be the only city in America to enjoy the top rating for its bonds, 1200 WOAI news reports.
"The bond rating illustrates the city's strong financial management policies and practices and is a clear message that San Antonio is building its infrastructure at the lowest cost to taxpayers," said Sheryl Sculley, the city manager.
The ratings agencies cited the city's strong fiscal management, diverse regional economy, solid financial reserves, and comprehensive long-range planning.
A Triple A bond rating allows the city to sell its general obligation bonds at the lowest possible interest rates.
A good bond rating is increasingly important at a time when public debt is becoming a very serious problem for municipalities nationwide. Several California cities have filed for bankruptcy, and crushing public debt loads, including massive amounts in unfunded pension and health care liabilities, have cities nationwide dealing with substantially lower bond ratings.
