Moody’s Upgrades Fresno’s Bond Rating

FRESNO, Calif. (KMJ) — Moody’s Investors Services has upgraded the City of Fresno’s general obligation bond rating to an A3.

City Spokesman Mark Standriff says, “We’ve managed to continue a very straight-forward balanced approach to managing the budget, getting rid of the debt, building our reserve, and improving service levels. Now, we have a reputation as a city that really is improving its financial picture, and that frankly, is very prudently managed.”

The city has gone from being rated as medium grade, with some moderate credit risk, to upper-medium grade, and low credit risk.

Standriff believes Fresno’s general plan and modernization efforts, will mean continued growth and success.