City of Santa Ana, Downtown Orange County
Community Alert: City of Santa Ana Receives Bond Credit Rating Upgrade
The private and independent credit rating firm, Fitch, has upgraded the City of Santa Ana’s former redevelopment agency’s 2011 tax allocation bonds to ‘AA-‘. A bond rating is a grade given to bonds indicating their credit quality based on evaluations of a bond issuer’s financial strength, or its the ability to pay a bond’s principal and interest in a timely fashion. In this grading system, a rating of double AA is higher than a single A.
As the Chair of the City’s Finance, Economic Development, and Transportation Committee, Councilwoman Michele Martinez commented, “The Mayor and City Council have made tremendous strides in the improvement of the City’s finances. This rating is a direct result of our commitment to improving the fiscal health of the City and will enable the City to continue to enhance services to the community.” Continue reading
