THE CITY OF LOS ALTOS RECEIVES A CREDIT RATING UPGRADE TO AA+

 As part of a review of municipalities in California, Alaska, Arizona and Washington, the City of Los Altos has received a credit rating upgrade from AA to AA+ as an indication of its superior credit strength. Standard & Poor’s, one of the nations preeminent debt credit rating agencies, announced the City’s enhanced credit upgrade in mid-march citing strong local demographics, sound financial metrics, solid reserves, good management and budgeting practices, and positive financial trends. The AA+ rating is associated with the City’s only outstanding debt, a Certificate of Participation lease financing, and represents the highest possible rating for this type of debt instrument. This is certainly positive news and a welcome recognition of the City’s standing in an otherwise somber economy.