By Monica D. Spencer | InMaricopa
Maricopa received top marks from one of the nation’s biggest credit rating agencies.
Fitch Ratings in New York City upgraded the city’s default rating last week from AA to AA+ — or a 9.6 on a scale of 10 — based on the city’s economic and residential growth, as well as its “budgetary flexibility.” This earned Maricopa the compliment of showing “financial resilience” from the agency.
The city also maintained its AAA rating from the previous year on its general obligation bonds, the highest marks achievable.
All of this means the credit rating agency found Maricopa to have a very high credit quality and a low risk of default. The AA+ rating also indicates the city has a “very strong capacity for payment of financial commitments” and “is not significantly vulnerable to foreseeable events.”
