Oro Valley gets A+ on financial company's report card - Tucson News Now

Oro Valley gets A+ on financial company's report card

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ORO VALLEY, AZ (Tucson News Now) -

Standard & Poor's likes what it sees in the finances for a road improvement district -- so much so, it's raising its bond rating for that district two notches, from A- to A+.

The rating applies to the Oro Valley Oracle Road Improvement District's special assessment revenue bonds.  The report from S&P states: "The stable outlook reflects our view of Oro Valley's very strong and stable economy and management."

"We are extremely pleased that Standard & Poor's has recognized the Town for its strong management and budgetary practices," said Oro Valley Finance Director Stacey Lemos in a press release. "To receive a two-notch upgrade on our outstanding debt in this slowly-recovering economy is rare." 

The higher rating will let Oro Valley get bonds at lower interest rates, saving taxpayer dollars on debt payments.

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