Saturday, September 25, 2021 8:26 pm

Rating firm upgrades Surprise bonds

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Fitch Ratings, one of the “big three” nationally recognized credit-rating agencies, has upgraded Surprise’s bonds, a move that lowers the municipality’s borrowing costs, city officials and the rating agency have announced.

Surprise Municipal Property Corporation (MPC) Sewer Development Fee Revenue Bonds- Series 2007, to ‘A‘ from ‘A-’, according to city officials. Fitch also reissued a rating outlook of “stable.”

The rating agency credited the city’s improved debt structure, according to a news release issued by the city.

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