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New Bond Ratings Mean Better Rates for City

SAN DIEGO-San Diego gets near-perfect marks from two bond rating agencies -- an important distinction for the city's ability to borrow money at lower interest rates for various construction projects.

By Randyl J. Drummer | Updated on May 30, 2002

SAN DIEGO-Two major credit-rating agencies have assigned San Diego perfect and near-perfect ratings. Officials say that is good news for a city contemplating borrowing money to pay for some expensive projects.

Fitch Ratings has upgraded its rating to AAA for the city’s general obligation bonds, which are backed by the city’s general fund. Fitch has given the city an AA+ rating for lease revenue bonds, which are backed by anticipated revenue.

High credit ratings mean the city can issue debt at lower interest rates, according to city officials.

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