Credit Rating

Victoria’s Bond Rating Reaffirmed at AAA

Standard & Poor’s (S&P) reaffirmed the city’s AAA bond rating in June 2020 and evaluated the outlook as stable.

The report cites the following factors in its assessment of the city’s ratings.

  • Very strong economy
  • Very strong management with strong financial policies and practices
  • Strong budgetary performance with operating surpluses
  • Very strong budgetary flexibility (fund balance of 60% operating expenditures)
  • Very strong liquidity
  • Weak debt (31% of expenditures) with 74% of debt scheduled to be retired in 10 years

This credit rating is the highest credit rating available from S&P, and the City of Victoria is one of only 27 Minnesota municipalities and 426 nationally with this AAA rating. 

View the full S&P ratings report for the city (PDF).