Standard and Poor’s Rating Services recently raised its long-term rating on Edwardsville, Kansas’ general obligation (GO) bonds from ‘A+’ to ‘AA-’. Additionally, S&P assigned its ‘AA-’ rating to the city’s series 2015 GO bonds. Edwardsville also received an outlook of stable on all of the city’s ratings. Edwardsville’s new rating is comparable to the most recent ratings for Bonner Springs and KCK.
The ‘AA-’ rating is the fourth highest rating that an organization can receive on their bonds from S&P. According to S&P, “an obligation rated ‘AA’ differs from the highest rated obligations (AAA) only to a small degree. The obligor’s capacity to meet its financial commitment on the obligation is very strong.”
This upgraded rating reflects balanced operations of the city’s budgetary performance, adequate economy, strong management, very strong liquidity, and the city’s strong budgetary flexibility.