From Hill Country News, February 6, 2009...
Despite financial problems elsewhere in the state and nation, things are looking good for Cedar Park, especially after getting a utility bond rating upgrade. And, it wasn't just any upgrade, it was a three-notch upgrade.
Despite financial problems elsewhere in the state and nation, things are looking good for Cedar Park, especially after getting a utility bond rating upgrade. And, it wasn't just any upgrade, it was a three-notch upgrade.
The bond rating company Standard and Poor upgraded Cedar Park from an A rating to an AA rating, skipping A+ and AA-, something that usually doesn't happen.
“Getting a rating change of three notches is very rare,” said Melanie Carr, media relations manager for Cedar Park. “An AA bond rating is only given to cities that have a strong capacity to pay interest and repay principal.”
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