city bond rating

City of Cincinnati

Cincinnati officials announced Thursday the city has received an upgrade on its bond rating.

Standard and Poor's has improved the city's rating on its unlimited-tax general obligation debt to AA.  Previously it was AA-.  The rating firm listed the city's outlook as stable.

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.

Jay Hanselman

Moody's Investors Service is downgrading Cincinnati's bond rating because of a new method for analyzing pension obligations.  

The city's general obligations bonds are now rated Aa2 instead of the previous Aa1.  Moody's also revised the city's outlook to negative.