Ledes from the Land of Enchantment

City gets AA+ a AA ratings for new $13.5 million bond | Business

The city of Santa Fe received AA + and AA ratings for a gross subordinated mortgage bond bond of $ 13.5 million that will be sold this week to repay outstanding debt at lower interest rates, the city reported.

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

“The city’s strong financial management has been demonstrated by its efforts to maintain sustainability through a significant restructuring of its operations in anticipation of the revenue pressures caused by a pandemic,” Fitch wrote.

“Santa Fe’s good management practices support stable financial reserves and balanced operations,” S&P wrote. Fitch also confirmed its AA + ratings on the $ 21.7 million general bond, the $ 56.7 million senior liens on BRT earnings, and an earlier series of $ 31.4 million subordinated liens in GRT Bind. S&P reiterated its AA ratings on the same bonds.

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