Standard & Poor's Ratings Services has announced that it has raised the City of Bossier City’s bond rating one notch to 'A+' from 'A' based on the city's strong financial position citing the city’s willingness to implement cost-saving measures in fiscal 2010 to preserve strong reserves.” The agency also says the city’s financial outlook is stable. A higher bond rating translates into lower bond interest rates for the city.
“This is certainly good news for Bossier City and is reflective of the efforts of the city administration and city council to be good stewards of the taxpayer’s dollars,” said Mayor Lorenz Walker. “It is also indicative of the cost cutting measures the city took last year in adopting the 2010 budget.”
Standard & Poor's says the raise in the bond rating reflects the city's:
• Role as an economic, employment, health care, educational, and entertainment center for a four-parish area; and
• Strong financial position, evidenced by very strong reserves, as well as the presence of a $30 million gaming fund reserve for capital needs and unexpected events.
Standard and Poor’s says these credit strengths are offset, in part, by the city's:
• Moderately high overall net debt per market value, and
• Slow debt amortization schedule.