Oro Valley has received a new rating from Standard & Poor's(S&P) Ratings Services – an A+, this is up from their A- rating.
This is due to a long term rating on the Oro Valley Oracle RoadImprovement District's special assessment revenue bonds.
According to a report from S&P, "The stable outlook reflectsour view of Oro Valley's very strong and stable economy and management."
"We are extremely pleased that Standard & Poor's hasrecognized the Town for its strong management and budgetary practices," saidOro Valley Finance Director Stacey Lemos, in a recent release on the rating."To receive a two-notch upgrade on our outstanding debt in thisslowly-recovering economy is rare."
This A+ rating will allow the Town to access future capital on thebond market at much lower interest rates, saving taxpayers money on the Town'sdebt payments.
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