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Posted on: August 7, 2019

McPherson City Credit Rating Affirmed

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Standard and Poor’s Credit Rating Service has confirmed the City of McPherson’s ability to retain an “AA-” credit rating related to current outstanding general obligation bonds. This is in accordance with new local rating criteria established by Standard and Poor’s. The rating system analyzes seven key-weighted factors to determine a final rating. Factors include institutional framework, economy, management, budgetary flexibility, budgetary performance, liquidity, and debt and contingent liabilities. The City of McPherson was either strong or very strong in the areas of financial management practices, budgetary flexibility, liquidity, budgetary performance, debt and contingent liability profile and institutional framework.

The news is positive for McPherson. “Borrowing capabilities and favorability of future bond interest rates are directly tied to the City’s credit rating,” explained City Treasurer/Finance Director Johnette Shepek. “The rating indicates the City’s economy, finances and financial management practices are favorable.” McPherson is considered a positive low-risk entity when it comes to investors interested in buying municipal bonds. The high credit rating will allow the City to continue receiving favorable interest rates and steady continued borrowing capabilities.

Shepek also noted, “Through strong debt management, sound borrowing principles and continued high credit ratings, the City continues to be able to take pressure off of Ad Valorem tax rates and maintain reasonable property tax rates for the citizens of McPherson.” The stable outlook reflects Standard and Poor’s Global Ratings expectation that McPherson will continue to maintain its strong budgetary flexibility and liquidity supported by stable operating performance. “In addition, the outlook is based on our view that the local economy will continue to experience stable economic growth,” said Shepek. “Standard and Poor’s does not expect to change the rating over the two-year outlook horizon.”

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