The credit rating agency – Standard and Poors – has upgraded the city of Dayton’s credit rating. It’s a move that bodes well for the city, which has faced serious economic challenges in the last couple of years.
Dayton City Manager Tim Riordan called the upgrade a “huge achievement for the City.”
The upgrade doesn’t mean the city is “flush with cash,” according to Riordan, but the report indicates that the city of Dayton is “managing its resources well.”
Deputy City Manager, Stanley Earley says Dayton’s credit rating now ranks as one of the highest in the state.
“Other than Columbus, Dayton now has the highest rated debt of any of the major cities in Ohio,” he said.
Another credit agency – Moody’s – held the cities credit rating stable. Along with strong fiscal management, both S & P and Moody’s cited the City of Dayton’s stable cash reserve fund as major reasons for their positive outlooks.
