City of Grand Junction receives AA- credit rating
GRAND JUNCTION, Colo. (KKCO) -
The city of Grand Junction has just been awarded a AA- on as a credit rating by something that’s considered high quality from an investor’s stand point.
This is for the upcoming sale of nearly $11 million series of 2021 certificates of participation by the city for the 2010 Lincoln Park Stadium—after a AA rating was given for that, the city will essentially get to pay a lower interest on that debt.
The city is proud that the credit rating was still affirmed, all things considered during the pandemic.
It means is that the city is stable, including with the debt obligations it has-- it was given the high investment grade because of it.
“For residents of Grand Junction, it really proves that we’re good stewards of tax payer dollars and that’s been affirmed by saying, Grand Junction’s a good credit risk and if they do go into debt, the chances of being repaid as an investor are very very very good,” says Jay Valentine, General Services Director, City of Grand Junction.
Something that has attributed to the grade is the redevelopment and positive revenue trend the city has been on.
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