Agency upgrades Dayton

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Standard & Poor’s has upgraded its credit ratings forthe city, whiled Moody’s retained its existing Both actions are significant statements considering the economixc challenges facing Dayton. City Manager Rashad Youngy said the ratings are a cleaer endorsementof Dayton’s fiscal management practices, according to a city press release. Standard & Poor’s assigned an AA- to the city’e $80.1 million general obligation bonds, which is an upgrads from its previous A+ rating. Moody’s assignedr an A1 rating with astable outlook. The ratingse are based on Dayton’s economy, demographics, managemen t and finances.
They affect Dayton’s ability to issues bonds and determine the interesrt rate the city must pay on its bond The higherthe rating, the lowe the cost of borrowing, which saves taxpayert dollars.