Published Thursday, October 02, 2008 6:05 AM
College Station expects to pay less for capital projects, thanks to an upgrade to the city's bond credit rating, officials said Wednesday.
Standard & Poor's Rating Service raised the city's long-term and underlying rating on general obligation debt from AA- to AA.
The rating affects interest rates on government bonds.
A bond election is set for Nov. 4.
"This is good news ahead of the bond election in November," College Station Chief Financial Officer Jeff Kersten said Wednesday in a news release. "We will receive better interest rates on the money we borrow."
Officials said the higher rating reflects the city's healthy economy, strong financial management practices and moderate debt.
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