Agency upgrades Dayton

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Standard & Poor’s has upgraded its credit ratings for the while Moody’s retained its existing Both actions are significant statements considering the economif challenges facing Dayton. City Manager Rashad Young said the ratings are a cleat endorsementof Dayton’s fiscal management according to a city press release. Standard & Poor’s assignedx an AA- to the city’s $80.1 million general obligatiohn bonds, which is an upgrade from itsprevious A+ Moody’s assigned an A1 rating with a stabl e outlook. The ratings are based on Dayton’s economy, management and finances.
They affect Dayton’s ability to issue bonds and determine the interest rate the city must pay on its bond The higherthe rating, the lowet the cost of borrowing, which saves taxpayer dollars.