YOUNGSTOWN, Ohio – The city announced Wednesday that it has received an A2 Low Credit Risk issuer rating from Moody’s Ratings, an effective two-step increase in its credit rating.
Moody’s referenced the city’s “solid financial position” and its governance and budget management as key drivers of the increase.
“The credit rating upgrade is a significant recognition of the city’s financial stability and prudent management,” said Kyle Miasek, city finance director. “Our team has worked hard to ensure that the city remains on good financial footing regardless of the other economic factors.”
The rating comes on the heels of three straight years of the city producing a clean state audit with no finding for recovery or adjustment.
“The ratings upgrade is a direct reflection of my administration’s focus on being great stewards of taxpayers’ money and demonstrating strong fiscal accountability,” Mayor Jamael Tito Brown said. “As we look to further diversify our economy, revitalize our downtown and grow our city, the Moody’s rating signals that Youngstown continues to be a solid investment.”
The Moody’s report can be viewed HERE.