Cedar Park gets bond rating upgrade

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.

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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Leander Bond Rating Goes from 'Near Junk' to High Rating

From the Community Impact Newspaper January, 2008...

When Garry Kimball, senior vice president for First Southwest Company, began working on the City of Leander’s financial account, its bond rating was what mayor John Cowman called “near junk bond status.”

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