College Park officials work to improve bond rating

The city of College Park leadership recently held a series of meetings with Moody’s Investor Service to review current ratings considerations, with the provision to advise/update the service to more accurately reflect the city’s financial positioning.

College Park’s current credit rating via Moody’s is Aa3, which is generally considered favorable. Although College Park’s net cash balance as a percentage of revenues is superior to other Moody’s rated cities nationwide, that alone does not qualify for a ratings increase.

City Manager Terrence Moore, along with Interim Director of Finance and Accounting Michael Forsythe and External Financial Advisor Ed Wall are examining strategies to also secure a higher Standard & Poor’s rating for College Park. It’s important to note that between 2014 and 2015, College Park’s S&P rating was elevated to AA-.