Three major credit rating agencies’ reports keep the city of Fort Worth’s investment grade in a strong position, according to a city news release issued May 19.

The full story

Fort Worth annually seeks ratings on its debt issuances from the following credit rating agencies:According to the news release, the ratings reflect the city’s ability to meet its debt obligations as well as helping to determine interest costs paid on general obligation bonds, which are backed by property taxes.

The details

S&P Global gave an AA rating and a stable outlook. Moody’s Investors Service gave an Aa3 rating and a stable outlook. Kroll Bond Rating gave an AA+ rating and a positive outlook. The latest ratings keep Fort Worth at the high investment grade rating, the news release stated.

Put in perspective

Fort Worth’s credit ratings on its 2023 general obligation bond issuances and outlook are unchanged from a year ago, according to the news release. The agencies pointed to the city’s strong financial management policies, economic growth and growing tax base for the favorable ratings.

The news release went on to state S&P Global and Moody’s ratings stay at AA+ and Aa1, respectively, for the city’s water utility and storm water projects.