March 10, 2014
Tomball Receives AA+ Rating from Standard & Poor
Standard & Poor’s Rating Services recently conducted a review of the City of Tomball and increased its long-term rating from “AA-” to “AA+.” This marks a major accomplishment for Tomball and provides great optimism for the city’s future.
The rating increase relates to the City of Tomball’s existing general obligation debt and was based on several factors, including:
- A strong economy.
- Strong budgetary flexibility, with reserves above thirty percent of expenditures for the past several years.
- Adequate budgetary performance.
- Very strong liquidity.
- Very strong management conditions and financial practices.
Tomball’s growing economy and close proximity to the Houston metropolitan area are other key contributors to the exemplary rating. The rating reinforces the City of Tomball’s stable future outlook and would be welcome news for cities of any size.
For more information about Tomball, visit them on the web.