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Posted on: December 4, 2020

BOND RATING: Top agencies uphold City's AA+ bond rating

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FBTX ~ Two of the nation's top credit rating agencies upheld the Farmers Branch coveted AA+ rating this year.

 

   Fitch Ratings cited the City's “solid revenue growth prospects and solid operating performance, characterized by an ample reserve cushion even in periods of economic stress” as benchmarks for the decision. Fitch added that some of DFW’s largest employers are located in Farmers Branch and various Class A office towers maintain above-average occupancy. Also, they noted that resident income levels exceed state and national averages.

 

   S&P Global Ratings referred to the City's “very strong management and financial policies” and “growing economy” for the same score, noting that “Farmers Branch’s assessed value has increased 37 percent since 2016.” S&P also said that despite continuing uncertainty from the COVID-19 pandemic, the City has "very strong liquidity and low overall net debt," and will "likely maintain very strong budget flexibility … to withstand any short-to-medium term effects of the current recession.”

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