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Shaker Heights City News

Posted on: April 21, 2022

S&P Global Ratings Affirms City's Creditworthiness

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S&P Global Ratings, a credit rating and research agency, affirmed the City’s financial strength and stability with its recent rating of $8 million in General Obligation Sanitary Sewer Improvement Bonds. 

S&P assigned a rating of AA+ to the sanitary sewerage improvement bonds. It also affirmed the City’s AA+ long-term rating for its outstanding general obligation debt. 

The S&P report noted that the City “continues to exhibit credit rating stability underpinned by strong management practices, a long history of very favorable financial performance, and a manageable debt and long-term liability profile.” 

Mayor David Weiss commented, “The S&P report and bond rating underscore the City’s strong financial position and our firm commitment to best practices in financial reporting, policies and procedures. We are pleased to continue to achieve very favorable bond ratings that enable us to support important projects in the City, like upgrades to our sewer infrastructure.”

For more information on the S&P Global Ratings report, contact Finance Director John Potts, 216-491-1423, john.potts@shakeronline.com.

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