S&P Upgrades Ratings On Normandy Park Bonds
Normandy Park is one of 15 municipalities in Washington and Oregon that Standard & Poor’s Ratings Services recently upgraded in regards to general obligation bonds.
“These upgrades reflect our continued review of issuers for whom the significance of their small size and more-remote location has lessened in our analysis,” said Standard & Poor’s credit analyst Lisa Schroeer.
“We believe that these entities reflect traits of a higher credit quality than previously assigned because of their good financial performance record,” said Ms. Schroeer in the report, “Criteria Revision Bumps Up Several Pacific Northwest Ratings,” published on RatingsDirect.
“Many of these municipalities have seen strong growth in revenues over the past several years and this has led to healthy financial positions that we believe will provide some cushion to weather the current economic downturn,” she said.
The upgraded municipalities include:
- North Bend
- Normandy Park
- Kittitas County
- Jefferson County
- Ocean Shores
- Mason County
- Moses Lake