The City of Mesa's financials are strong according to both Moody's and Standard & Poor (S&P) Global credit rating agencies.
S&P raised their long-term rating to AA from AA- on Mesa's general obligation bonds and reaffirmed their AA- rating on utility revenue bonds. All AA ratings, AA- included, indicate a "very strong" capacity to meet financial commitments.
"Over the last five years we have seen exciting growth in our economy from business expansions to new retail and entertainment," Mayor John Giles said. "Our recovery from the recession has been steady and I'm proud to see the increase in our rating from S&P."
Moody's maintained their Aa2 rating to both our general obligation and utility revenue bonds. Moody's defines this rating as "high quality" and "subject to very low credit risk."
For more information about Mesa's bond program and ratings visit www.mesaaz.gov/about-us/city-projects/bonds.
Contact: Melissa Randazzo