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Posted on: July 30, 2018

S&P GIVES JOHNSTON AA+ RATING FOR THE ELEVENTH CONSECUTIVE YEAR

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The City of Johnston received an AA+ long-term rating from Standard and Poor’s (S&P) Global Ratings general obligation (GO) bonds, series 2018A for the eleventh consecutive year. This rating is the second highest in S&P’s long-term rating and reflects upon Johnston’s strong economy, management and budgetary flexibility.

“Our AA+ rating is a significant financial achievement and reflects upon the smart planning and financial decisions our City has made over this past year,” said Mayor Paula Dierenfeld. “Being able to maintain this rating for eleven consecutive years, validates the City’s strong financial management and is a victory for taxpayers. As we progress into this new fiscal year, I am confident we will continue to demonstrate financial efficiencies to ensure the residents of Johnston have a good quality of life.” 

The S&P report noted the following:

  • Very strong economy, with access to a broad and diverse metropolitan statistical area.
  • Strong management, with “good” financial policies and practices under our Financial Management Assessment methodology.
  • Very strong budgetary flexibility, with an available fund balance in fiscal 2017 of 41% of operating expenditures, and the flexibility to raise additional revenues despite statewide tax caps.

Standard & Poor's is the world's leading index provider leading index provider and the foremost source of independent credit ratings. To view the full ratings report, click here.

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