Latest News, News A new report shows the city of Camas’ S&P credit/bond rating has increased from “AA+ with a stable outlook” to “AA+ with a positive outlook.”
City leaders said the increase in the S&P rating is a “great sign for the city.”
“Basically, this means we could see a AAA rating by 2023,” said Camas Finance Director Cathy Huber Nickerson. “However, to accomplish this, we must maintain our reserves at higher levels and upgrade our debt policy. All of which is currently in progress. So, we’re extremely excited about the recent move to Positive Outlook.”
The “AAA” rating is S&P’s highest credit rating, and would mean the city has an “extremely strong capacity to meet its financial commitments.” According to the S&P’s rating system, the city’s “AA+” rating “high quality, with very low credit risk, but susceptibility to long-term risks appears greater.”
The city’s news release about its new S&P rating warned the increase “isn’t something the public will necessarily see in the form of something tangible.” Instead, said Camas Communications Director Bryan Rachal, “the change will be reflected in a better bond sale for the city with a healthy premium and lower total interest costs.”
