OV bond rating rises
Explorer Staff
April 4, 2007
Standard and Poor’s has upgraded the rating of Oro Valley’s $17.83 million series 2007 tax revenue refunding bonds to a rating of “AA-.”
According the Standard and Poor’s ratings definitions, the upgrade represents that the town‘s financial security is “very strong” as opposed to “strong.”
In a press release, the town attributed the new rating to strong sales and franchise taxes.
“We are very pleased with this rating,” Finance Director Stacey Lemos said in the release. “This demonstrates that careful fiscal planning and budgeting is paying off for everyone in Oro Valley.”
1 comment:
The bond ratings of a town are based on the town's ability to TAX its residents! Oro Valley has demonstrated that they can tax us plenty. This is not good news!!!
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