Standard & Poor’s (S&P) notified Lakewood earlier this month that it will increase the city’s bond rating to AA, up from AA-.
This is the city’s second bond rating increase in four years. In 2014, S&P upgraded the city’s rating to AA-, up from A.
Over the last four years the city saw its bond rating increase three steps – skipping A+ in 2014 and going directly to AA-.
The AA bond rating, which is an extraordinary achievement for our city, will translate into lower financing costs by attracting a broader range of investors.
This rating is also a positive reflection of the city’s effectiveness in managing its financial resources.