S&P Global Ratings assigned its ‘AA+’ long-term rating to Bellevue’s 2020 general obligation bonds and 2020 convention center refunding bonds that are expected to be issued soon. S&P Global Ratings also reaffirmed its ‘AA+’ long-term ratings on the city’s public safety department tax anticipation refunding bonds. The outlook is stable.
Highlights of S&P Global’s ‘AA+’ rating view of Bellevue include:
- Very strong liquidity
- Very strong budgetary flexibility
- Strong budgetary performance
- Strong management
- Strong economy
- Strong Institutional framework score
Bellevue Mayor Rusty Hike and City Finance Director Rich Severson are pleased with the rating which implies that the City of Bellevue has a strong credit worthiness which will result in a savings for taxpayers when the city chooses to borrow money. Severson said, “the city continues to work hard to improve its financial position so it can enjoy, and even improve, these excellent ratings in the future.
The full report (S&P Global Ratings – Bellevue January 13, 2020.pdf) is included with this article or is available on the city’s website at: https://www.bellevue.net/departments/finance/documents-forms-reports