City Of Celina Receives an "Aa3" Bond Rating from "A1"
Moody's Investors Services upgrades the City of Celina bond rating from "A1" to "Aa3" confirming the city's strong financial management.
CELINA (August 13, 2018) Moody’s Investors Service assigns a bond rating of Aa3 to the City of Celina, reflecting a rapidly growing tax base. Moody's has also upgraded to Aa3 from A1 the City of Celina's, TX issuer rating and rating on outstanding general obligation limited tax (GOLT) debt. The upgrade will provide significant savings to Celina taxpayers by qualifying the city for lower interest rates.
According to Moody’s, the upgrade was driven by Celina’s healthy reserve levels following multiple years of strong financial operating performance.
Such upgrades are also an indication of good fiscal governance by Mayor and City Council.
The certificates will fund various city-wide capital needs such as water and sewer infrastructure and street repairs.
Celina has also received an upgrade from “AA-“ to “AA" rating from Standard & Poor's Global, viewing the outlook for this rating as "stable."