Ralston Bond Rating Raised!

Ralston Bond Rating Raised An Astounding 3 Levels

City now has an “investment grade” credit rating

Citing strong fiscal management, Standard & Poor raised the City of Ralston’s credit rating from BB+ to BBB+. The three-level increase means the City has earned “investment grade” status—a sign to investors that the City is the safest type of investment.

“The new credit rating is a huge win for Ralston residents,” said Ralston City Administrator Rick Hoppe. “A strong governmental credit rating works like a strong personal credit rating. A strong personal credit rating allows you to buy a house or car at a lower interest rate. The same is true of a City when it borrows money to pay for street or sewer improvements. Lower interest rates save taxpayer dollars.”

Standard & Poor cited Ralston management’s proactive measures to improve its financial position including its demonstrated willingness to reduce its financial vulnerabilities.Ralston Finance Director Tim Bohling said the pro-active measures cited by Standard included:

●Paying off $9.65 million in debt over the past 3 years

●Establishing a strong cash reserve

●Initiating a plan to invest in replacing infrastructure like streets and sewers; and

●Adopting a new investment and debt policy

“We have conservatively managed our budget and made tough choices over the past several years. A three-level jump in our bond rating is recognition that our emphasis on improving the City’s finances is paying off,” Bohling said.

“Mayor Don Groesser, the City Council, the City Directors, and especially Finance Director Tim Bohling deserve congratulations for their strong financial leadership. We managed to raise our bond rating while at the same time cutting the City’s property tax levy two cents over the last two years. Ralston’s financial position is very strong,” Hoppe concluded.