The City of Richmond has announced that S&P Global Ratings has maintained strong credit ratings for several of its financial obligations. These include an AA rating with a stable outlook for Public Utilities bond issuances, an AA+ rating with a stable outlook for the City’s general obligation bonds, and an AA rating with a stable outlook for the Economic Development Authority.
These ratings indicate a high level of creditworthiness and affirm Richmond’s robust financial management practices. They enable the city to access capital markets at favorable interest rates, facilitating continued investment in infrastructure, public services, and long-term community development.
S&P revised its outlook for the City from positive to stable due to broader economic uncertainties rather than specific concerns about Richmond’s fiscal health.
“We are pleased to receive these ratings from S&P Global,” said Mayor Danny Avula. “They highlight the City’s responsible financial stewardship and our commitment to maintaining a resilient and efficient utility system for all Richmonders.”
These ratings come as Richmond advances key priorities such as sustainable energy initiatives, upgrades to water and wastewater systems, and adopting innovative technologies to enhance service reliability and environmental sustainability.
Richmond’s strong credit standing reflects its sound fiscal policies, effective leadership, and ongoing commitment to delivering dependable, high-quality services to residents and businesses.
For more details, visit www.spglobal.com/ratingsdirect.
