The city of Paso Robles has announced they have received an upgrade in their general obligation bond rating from Fitch Ratings, moving from ‘AA’ to ‘AA+.’
The city says the upgraded rating means they can now lower interest rates on bonds, which frees up funds for public projects and infrastructure improvements.
This also means the city can continue its essential services without increasing taxes, the release says.
Ryan Cornell, administrative services director said: “A higher rating is a strong vote of confidence in our city’s financial practices.”
