Global credit ratings firm upgrades Glendale’s financial outlook

Screen Shot 2014-10-01 at 6.00.42 PMBy Jeff Grant | Daily News-Sun

Glendale’s financial picture, burdened by debt and the lingering effects of the recession, is improving.

Moody’s Investors Service, one of the world’s leading credit-ratings providers, has upgraded its outlook for the city from negative to stable. The city’s water and sewer enterprise outlook was moved up from negative to stable as well in a report released Tuesday by the global company.

In the same evaluation, Moody’s affirmed the city’s general-obligation bond rating at A3, an upper medium-investment grade rating held since August 2013, and affirmed its various special tax bond ratings in a summary stating the city was managing its finances better but still facing hurdles.

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