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.