Wednesday, April 11, 2012

City Finance: A1, not just a steak sauce anymore

So good news for Buffalo finances (and in turn our own), Moody's credit rating agency has upgraded Buffalo's credit score to an A1 rating, for the first time in city history.

What this means for us is that the city, when it borrows money (mostly for capital improvemnet projects) it will now borrow at a lower loan rate, therefore owing less in the long run, which is better for the city because it can either 1) have more money on hand for improvements or 2) not raise taxes next time things get a little tighter.

Good news for a city thats rounding the bend!

Bob Z

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