Bond Rating May Save Anaheim Money
- Share via
ANAHEIM — In a change that could save taxpayers millions of dollars, Standard and Poor’s has upgraded the city’s General Obligation Bond rating, city officials announced this week.
Anaheim joins five other California cities in benefiting from the highest bond rating in the state. Anaheim’s bond rating went from AA- to AA.
Potential interest savings to city taxpayers could be substantial, city officials said. For example, over a 30-year period, the interest cost savings on a $50-million bond issue rated AA instead of AA- could be $2.25 million.
“The fact that this upgrade was accomplished in our current difficult financial environment is especially gratifying and is a resounding endorsement about the way we have managed our resources during this period,” City Manager James D. Ruth said.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
