S&P Gives Redmond AAA Rating

The city of Redmond received the highest credit rating from Standard & Poor’s for its 2011 limited-tax general obligation bonds, as well as for its outstanding general obligation bonds, it said Tuesday.

The AAA rating means the city has access to lower interest rates for its bond sales, which saves taxpayers money, said Marta Gronlund, Redmond’s communication program manager, in a prepared statement.

S&P credit analyst Kaitlyn Connors’ report said the city’s management practices are strong and sustainable, including its use of long-term planning to guide operating budgets and capital spending, Gronlund said.

You can read the city’s news release here.