Oklahoma City receives highest possible bond ratings

In the realm of municipal finance, few accolades carry as much weight as a AAA bond rating. It's a testament to prudent financial management, strong economic fundamentals and a commitment to fiscal responsibility. This week, both Moody’s Investors Service and S&P Global Ratings reaffirmed Oklahoma City's AAA bond rating for the 16^th consecutive year. These top-tier ratings, the highest attainable from both agencies, reflect the city's robust financial position and its ability to weather economic uncertainties.

Chief Financial Officer Brent Bryant attributed these stellar ratings to Oklahoma City's longstanding conservative financial culture, bolstered by the support of Mayor David Holt and the city council.

The reports from S&P and Moody’s pinpoint several key factors contributing to Oklahoma City's strong financial standing. S&P notes the city's diversified economy, which has gradually shifted away from its traditional reliance on the energy sector toward broader economic bases. This diversification has been instrumental in ensuring consistent budgetary performance, supported by steady sales and use tax growth and prudent budgeting practices.

Moody’s report highlights Oklahoma City's significant economic presence, anchored by governmental employment and a sizable tax base. The city's history of conservative budgeting, coupled with robust financial reserves and an experienced management team, further solidifies its position as a financial stronghold.

These AAA ratings aren't just symbols of prestige; they have tangible implications for Oklahoma City's infrastructure development. The city utilizes these ratings to price bonds sold to fund critical projects included in the Better Streets, Safer City program. The ratings allow the city to access capital at favorable rates.

These ratings mean Oklahoma City will maintain its membership in an elite club. It is only one of 11 cities in the United States with a population of 690,000 or more to have AAA ratings.