The ratings agency Standard & Poor's Financial Services raised its rating on Colleyville's water and sewer system revenue refunding bonds to AAA in late-March, reflecting the system's stability and low debt level, according to the S&P report.
City spokeswoman Mona Gandy said S&P typically reaffirms or upgrades bond ratings every two to three years and had already rated Colleyville's general obligation and drainage utility bonds as AAA, the highest available bond rating.
"Achieving a third AAA rating is a testament to the hard work by city leadership and staff to manage our projects and budgets effectively," Mayor David Kelly said in a news release. "It allows us to do more with our tax dollars, and that's good for Colleyville citizens and businesses."
The report said the bond was raised from AA+ as a result of a stable, long-term water supply that requires moderate water and sewer rates and adds limited capital needs.
