Last Updated on March 19, 2024, 10:15 AM | Published: March 19, 2024
The City of OKC sends this information as posted below:
Moody’s Investors Service and S&P Global Ratings have each affirmed the City of Oklahoma City’s high bond rating with a stable long-term outlook.
S&P affirmed the City’s AAA rating and stable outlook in a March 11, 2024, report and Moodys affirmed its Aaa rating in a March 13, 2024, report. The triple-A ratings are the highest awarded by each agency.
“Our AAA/Aaa ratings are the result of a longstanding conservative financial culture supported by Mayor and Council and is a reflection of our commitment to high financial standards,” Chief Financial Officer Brent Bryant said.
According to the S&P report, “Oklahoma City’s economy continues to diversify, moving further from its historical focus on the energy sector, specifically oil and gas production, storage, and transportation. Oklahoma City continues to exhibit strong budgetary performance, supported by steady sales and use tax growth and conservative budgeting practices.”
Moody’s reported, “Oklahoma City has a large regionally important economy anchored by governmental employment, a sizeable tax base, a high level of financial reserves, a history of conservative budgeting, and an experienced management team.”
These ratings are used to price bonds the City sells to fund the bond package included in the Better Streets, Safer City infrastructure investment program.
These ratings keep Oklahoma City in an elite group of major American municipalities with the highest possible rating. Oklahoma City is only one of 11 cities in the United States with a population of 690,000 or more that have triple-A ratings.
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