City of New Orleans earns credit upgrade; A2 rating from A3

City of New Orleans’ bond rating upgraded

NEW ORLEANS, La. (WVUE) - The City of New Orleans’ bond rating Tuesday was upgraded by Moody’s Investors Service to an A2 rating from A3.

In 2019, the City is going to issue $50 million Taxable Improvement Bonds, which also received an A2 rating from Moody’s.

According to Moody’s, this stable outlook reflects expectation that the growing economy and tax base and management’s willingness to maintain adequate reserve levels and balanced operations, despite budgetary challenges, such as high fixed costs and public safety and infrastructure needs, will allow the city’s credit profile to remain stable.

Some of the factors that could lead to a credit rating upgrade include continued balance operations and material improvement in reserve levels, and significant expansion and diversification of the local economy.

Copyright 2019 WVUE. All rights reserved.