July 3, 2012
Board Releases Standard & Poor’s AA+ Rating
Standard & Poor’s, one the nation’s leading bond rating firms, has released its updated rating on Rio Nuevo bonds and assigned a AA+ Stable rating. This is the second highest rating issued by S&P, with AAA the only rating higher. They identify the short to mid-term financial outlook for the District as stable.
“Good news for The District as well as the community,” said Fletcher McCusker, newly elected Chairman of Rio Nuevo. “Our rating allows us to remain confident in moving forward with the progress the community not only expects and deserves, but is long overdue.”
The District released its budget for the fiscal year ending on June 30, 2013 yesterday, with a little over 11 million dollars ready for proper, transparent and responsible investment in revitalizing downtown Tucson.