Roseville Credit Rating Boosted by Standard & Poor's
SHARE with Friend
Standard & Poor's Ratings Services raised its issuer credit rating on the City of Roseville one notch to 'AA+' from 'AA' in its latest review published April 1. The upgrade is based on Rosevilles strong economy, strong budget flexibility and strong budget management according to Standard & Poor's.
This credit rating upgrade has the potential to save the City hundreds of thousands of dollars with future bond issuances. The debt service savings to the City on the issuance of $35 million in bonds would be $500,000.
"The credit rating upgrade is the result of sound financial policies enacted by our City Council and reflects the hard work we've done over the past decade," said Roseville Finance Director Monty Hanks.
"In our opinion, Roseville's debt and contingent liability profile is strong with a total-governmental-funds-debt-service ratio of 1.4% of total governmental funds expenditures. We also believe Roseville's very strong economy and participation in the broad and diverse Sacramento-Roseville-Arden-Arcade metropolitan statistical area provide additional rating stability," said Standard & Poor's credit analyst Daniel Zuccarello. "Therefore, we do not expect to change the rating over the two-year outlook period."
"We, however, could lower the rating if Roseville's budgetary performance were to weaken significantly, resulting in reduced financial flexibility or liquidity. Conversely, we could raise the rating if budgetary performance were to improve consistently, providing additional comfort that financial operations and reserves will likely remain at levels we consider very strong," said Zuccarello.
Print This Article
Placer County News HeadlinesRoseville Crime Report Digest Update (7.29.14)Roseville, CA - The Roseville Police Department weekly crime report digest update for July 29, 2014.
Different Standards From Mortgage LendersJulie Jalone of MagnumOne Realty in Roseville, reports on a recent Fannie Mae survey which indicates there may be a growing difference in credit standards between small and large lenders. Which do you think has the tighter credit standards? Check out Julie's article and find out.
PCWA Comments on Bay Delta Conservation PlanDrought Watch: PCWA expresses concern about future water supply reliability for Placer County and claims EIR fails to consider key issues.
Honor Bowl Games at Del Oro August 2014ROCKLIN, CA. - William Jessup University announced today that it will serve as a sponsor for the Northern and Southern California 2014 Honor Bowl football games.
Tahoe Bike Classic Sept. 27 & 28The inaugural Tahoe Bike Classic will take over the Lake Tahoe basin this fall, September 27 & 28, 2014.
Lake Tahoe Marathon Returns September 14thArguably the most beautiful marathon in the world, the Lake Tahoe Marathon returns to Lake Tahoe on Sunday September 14, 2014. Since its inception in 1995, the Lake Tahoe Marathon has evolved into a premier running event
3 Month Old Dies in Sacramento, Parents JailedAshleigh Smith and the 19-year-old father, Terry Scott, were interviewed, they were both booked that night into the Sacramento County Jail on felony child abuse/neglect charges.
Dropping Gas Prices Lift Summer DriversLocal gas prices continue to drop and bring relief to drivers across California and the nation.
Inter-Faith Task Force Seeks New MembersThe Roseville Police Department is hosting an Inter-Faith Task Force comprised of congregational leaders and security teams for churches and other
Lake Tahoe Basin Community Plan Environmental ReviewWith the release of the Notice of Preparation (NOP) for the Environmental Impact Statement/Report, the ongoing update to the complex Tahoe Basin Community Plan continues to make progress
Preventive Autism Treatment Focus of Research AwardsResearch could affect nearly one in every four cases of autism among children in the U.S.
Simple Changes Helping California Small Businesses and EntrepreneursIt's not easy doing business in California. In order to be successful, business owners must overcome many challenges, one of which is dealing with California's complicated tax system