Once again S&P Global Ratings recognized the City of Blue Springs and its staff’s strong financial management and budget planning.
On Nov. 3, S&P Global Ratings affirmed the City of Blue Springs’ AA general obligation rating and assigned an AA- rating to the roughly $35.69 million series 2022 special obligation bonds for the City’s aquatic facility, categorizing the City’s financial situation and outlook as ‘stable.’ An AA rating is the third-highest bond rating S&P assigns to municipal bonds.
“The City's very strong management, with strong financial-management practices and policies under our Financial Management Assessment (FMA) methodology, has allowed Blue Springs to report positive financial results and maintain very strong budgetary flexibility recently,” the S&P Global Report states.
According to the S&P report, the rating reflects the City’s strong local economy, proactive management with strong financial policies, and conservative and flexible budgeting practices.
“This report shows our taxpayers that we are managing the City’s finances responsibly and we will continue to do so while providing our residents with vital City services,” Christine Cates, Deputy City Administrator of Finance and Administrative Services said.
With the AA stable bond rating, S&P Global Ratings, states they expect the City of Blue Springs will maintain strong fund reserves supported by strong financial management policies and practices.
For more information on the City’s Bond Ratings, go to www.standardandpoors.com. For more on the City’s budgetary and financial information, go to www.bluespringsgov.com.