EDGERTON, Kan. – The City of Edgerton continues to maintain its AA credit rating from bond rating agency S&P Global Ratings. This rating means the City of Edgerton is likely to receive lower interest rates when it issues bonds to finance capital projects, saving taxpayers money.
In its report, S&P Global Ratings specifically highlighted the City’s consistent general fund performance sustaining very strong financial reserves, along with strong management and good financial policies and practices. Edgerton’s rating was further bolstered by our expanding economy with development expected to continue.
“I am proud to report another high rating to our City Council and residents. This is great news for our future because it makes Edgerton more likely to be seen as a smart investment,” said City Administrator Beth Linn. “This rating allows us to invest and improve our infrastructure at the lowest possible costs.”
The rating report presents a thorough, objective, and independent analysis of the City’s financial operations and credit strength. The AA rating is considered very high and demonstrates very strong creditworthiness relative to other U.S. municipal or tax-exempt issuers or issues. For instance, the City’s credit rating is one notch better than S&P’s rating for the State of Kansas, which is AA-.
As part of its outlook, S&P Global expects stability for the next two years per the Ratings Direct report, “The stable outlook reflects our view that the city will maintain very strong reserves buoyed by the expectation of positive revenue trends due to new construction and supported by a history of very strong budgetary performance.”