El Cerrito, CA Sales Tax Revenue Bond Rating Raised To 'A-' On Improved Finances; Outlook Is Positive

ENGLEWOOD (S&P Global Ratings) Sept. 29, 2023--S&P Global Ratings raised its long-term rating to 'A-' from 'BBB+' on El Cerrito Public Financing Authority, Calif.'s outstanding sales tax revenue bonds, issued on behalf of El Cerrito. The outlook is positive. "The raised rating reflects our view of the city's improved underlying creditworthiness, driven by its improved financial position and enhanced financial management policies and practices," said S&P Global Ratings credit analyst Alyssa Farrell. "The positive outlook reflects our opinion that we could further raise the rating if our assessment of the city's underlying creditworthiness strengthens," Ms. Farrell added. The bonds are secured by a first lien on the voter-approved Measure A half-cent sales and use tax dedicated for local street improvement

...September 29, 2023 ENGLEWOOD (S&P Global Ratings) Sept. 29, 2023--S&P Global Ratings raised its long-term rating to 'A-' from '###+' on El Cerrito Public Financing Authority, Calif.'s outstanding sales tax revenue bonds, issued on behalf of El Cerrito. The outlook is positive. "The raised rating reflects our view of the city's improved underlying creditworthiness, driven by its improved financial position and enhanced financial management policies and practices," said S&P Global Ratings credit analyst Alyssa Farrell. "The positive outlook reflects our opinion that we could further raise the rating if our assessment of the city's underlying creditworthiness strengthens," Ms. Farrell added. The bonds are secured by a first lien on the voter-approved Measure A half-cent sales and use tax dedicated for local street improvement and maintenance. Proceeds funded transportation improvements. El Cerrito benefits from its location within the San Francisco-Oakland-Hayward, Calif., metropolitan statistical...

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