Wall Street analyst affirms Rochester’s strong credit rating
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~ In a recent announcement, Mayor Malik D. Evans proudly shared that S&P Global Ratings has assigned its SP-1+ short-term rating to Rochester's $27 million general obligation bond anticipation notes. This prestigious financial-grading firm is closely monitored by Wall Street investors, making this rating a significant achievement for the city.

Mayor Evans emphasized that this bond rating is a reflection of the sound financial practices within the City government, as well as the increasing value of Rochester's tax base and other positive economic indicators. He stated, "This is a clear indication that our strategic investments to accelerate business growth, empower residents, and expand generational wealth in every neighborhood are working."

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Aside from the practical benefit of lowering the City's interest rates on debt, bond ratings also serve as an objective report card from respected experts on the financial practices of the City government and the current conditions and long-term outlook of the local economy.

S&P cited several factors to justify their rating, including Rochester's strong financial policies, high reserves, manageable costs and debt, and robust financial planning and monitoring. They also noted the city's economic development initiatives with a focus on the industrial sector, office space, and housing. Additionally, Rochester's stable tax base and rising home values were highlighted as contributing factors to this positive rating.

With a growth exceeding $4 billion in home values alone, it is evident that Rochester is on a path towards continued economic success. This bond rating serves as a testament to the city's commitment to responsible financial management and strategic investments for future growth.

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