Photo credit: NewsBreak
Yelm, WA Debt Rating Raised To ‘AA’ On Financial Performance, Improved Indicators; Outlook Stable
Excerpt from S&P Global Ratings:
S&P Global Ratings raised its long-term rating to ‘AA’ from ‘AA-‘ on Yelm, Wash.’s series 2012 limited-tax general obligation (GO) bonds outstanding.
“The raised rating reflects our view of the city’s recent strong financial performance, which continues to support its very strong cash-basis available fund balances, as well as our view of its improved income indicators and continuing economic growth, which we view as sustainable,” said S&P Global Ratings credit analyst Cenisa Gutierrez.
The outlook is stable.
Yelm is a bedroom community for residents working in the surrounding cities of Tacoma, Olympia, and Centralia and is one of the fastest-growing cities in Washington State, with a population that management expects to grow from about 10,770 currently to nearly 25,000 by 2040. Ongoing development within the city has contributed to very strong assessed value growth, including a 30% increase over the last two years, reflecting the residential and commercial development.
Post a comment
No comments yet. You should be kind and add one!
By submitting a comment you grant Yelm Community Blog a perpetual license to reproduce your words and name/web site in attribution. Inappropriate and irrelevant comments will be removed at an admin’s discretion. Your email is used for verification purposes only, it will never be shared.