The city of Santa Fe received AA+ and AA ratings for a $13.5 million subordinate lien gross receipts tax bond that is being sold this week to re-fund outstanding debt at lower interest rates, the city reported.

Fitch Ratings assigned an AA+ and S&P Global Ratings assigned an AA rating to the 2021 series bond, the city reported in a news release.

"The city's strong budget management was demonstrated by its efforts to maintain sustainability in anticipation of pandemic-induced revenue pressures via significant restructuring of its operations," Fitch wrote.

“Santa Fe's good management practices support stable financial reserves and balanced operations,” S&P wrote. Fitch also affirmed its AA+ ratings for the city’s $21.7 million general obligation bonds, $56.7 million senior lien GRT revenue bonds and an earlier series of $31.4 million subordinate lien GRT bonds. S&P affirmed its AA ratings for the same bonds.

(1) comment

Gerald Joyce

What, no I hate Webber comments yet.

Welcome to the discussion.

Thank you for joining the conversation on Santafenewmexican.com. Please familiarize yourself with the community guidelines. Avoid personal attacks: Lively, vigorous conversation is welcomed and encouraged, insults, name-calling and other personal attacks are not. No commercial peddling: Promotions of commercial goods and services are inappropriate to the purposes of this forum and can be removed. Respect copyrights: Post citations to sources appropriate to support your arguments, but refrain from posting entire copyrighted pieces. Be yourself: Accounts suspected of using fake identities can be removed from the forum.