Submitted by City of Lacey

The City of Lacey recently received a Standard & Poor’s (S&P) Rating Services upgrade from ‘AA+’ to ‘AAA’ for its long-term rating and the rating on its previously-issued general obligation bonds. The ‘AAA’ rating is the strongest possible S&P credit rating. S&P defines this rating as having an extremely strong capacity to meet its financial commitments. The rating has a stable outlook.

S&P stated the rating reflects their view of the City of Lacey’s:

Strong management, including a minimum reserve policy, long-term capital planning with identified funding sources, and an investment policy that prioritizes principal retention above return.

Very strong budgetary performance.

Very strong budgetary flexibility due to available reserves that are likely to remain strong for the medium term.

Very strong debt profile, 84% of which will be repaid within 10 years.

For more information about the rating upgrade, please contact the City for details.