S&P Upgrades City of Cleveland Debt Rating

Wednesday, June 28, 2017

CLEVELAND – Recently the Standard and Poor issued a revised outlook to “positive from stable and affirmed its 'A' long-term ratings on Cleveland, Ohio's previously issued nontax revenue bonds.” See the full content here.

“This is an exciting time in the City of Cleveland and it is under the leadership of Mayor Jackson and the great working partnership with Cleveland City Council and President & Finance Chair, Kevin J. Kelley that we have been able to focus on strong fiscal management and long term planning, which led to this upgrade,” said Director of Finance Sharon Dumas. “Over the last 12 years the city has managed conservatively and as a result of same, has maintained flawless audits from the State of Ohio and accolades and inquiries from other municipalities.  One cannot applaud the recent success of the City of Cleveland, without first acknowledging the consistent, strong and detailed fiscal management that resulted in 12 years of a balanced budget in the face of significant cuts at the state and federal levels.”

About the City of Cleveland 

The City of Cleveland is committed to improving the quality of life of its residents by strengthening neighborhoods, delivering superior services, embracing diversity and making Cleveland a desirable, safe city in which to live, work, play and do business. For more information on the City of Cleveland, visit online at www.city.cleveland.oh.us, Twitter at @cityofcleveland or Facebook at www.facebook.com/cityofcleveland.

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