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Standard & Poor's Ratings Service oversees bond rating for Pitts - KOAM TV 7

Standard & Poor's Ratings Service oversees bond rating for Pittsburg

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PITTSBURG, KANSAS -

 In anticipation of the upcoming General Obligation Bond issue, the City of Pittsburg, Kansas enlisted Standard & Poor's Ratings Service to provide a bond rating on behalf of the City. As one of the world's leading providers of independent credit risk research, Standard & Poor's, along with its predecessor organizations, has been in business for more than 150 years.

Standard and Poor's Ratings Services raised its long-term rating on Pittsburg, Kansas general obligation debt one notch, to 'AA- from 'A+'.

The 'AA-' bond rating reflects Standard and Poor's view of the City's enhanced financial practices which they consider "strong", coupled with stable budgetary performances in fiscal 2014 and projected stability in future years.

"We were informed the upgrade is a direct result of the City's strong financial policies, Five-Year Financial Plan and Five-Year Capital Improvements Plan, explained Director of Finance Jamie Clarkson.

If you have any questions, or if you require additional information, you may contact City Manager Daron Hall or Director of Finance Jamie Clarkson at (620)-231-4100.

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