Mission Viejo’s credit rating has been upgraded, thanks to its solid financial position and proactive fiscal management, which has resulted in the City’s balanced budget.
The AAA rating – the highest rating available – comes from Standard & Poor’s, one of the world’s preeminent providers of credit ratings. The firm raised the rating on the debt of communities that demonstrated economic stability, strong financial performance and good management practices.
“The key to a higher rating, in our opinion, is achieving a balance between location and economic opportunity that helps maintain financial stability,” Standard & Poor’s June report said.
The City’s rating upgrade reflects its historically strong financial position – with discretionary reserves representing about 50 percent of revenue – low debt burden and prudent fiscal policies.
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