bond rating

Two major bond rating agencies are keeping the City of Cincinnati’s bond ratings the same, but one of them has upgraded its financial outlook for the city.

Cincinnati officials said in a press release Tuesday that Moody’s Investors Service reaffirmed the city’s general obligation bond rating of “Aa2.”  But Moody’s moved its financial outlook for the city from the negative category to stable.

Cincinnati officials will be meeting with bond rating agencies next month to essentially determine the city's credit score for the coming year.  That bond rating determines how much it will cost the city to borrow money. 

Council Member Kevin Flynn said the process and the rating is important.

"Even if it's a quarter point, we're talking substantial dollars here if we get a reduction," Flynn said.

Right now the city's bond rating is AA, which is a step below the best of AAA.  City officials want to maintain the current rating.