Manassas Park Bond Rating Upgraded to “A+”

Release, City of Manassas Park:

Standard & Poor’s (S&P) Rating Services upgraded the City of Manassas Park’s underlying bond rating by four notches to “A+” and affirmed its stable outlook. This credit rating is a forward-looking opinion about the City’s overall creditworthiness and financial condition. 

The rating upgrade demonstrates the positive impact of significant efforts, since the recession, to implement a number of fiscal health policies and practices including long-range forecasting, expense stabilization and priority based budgeting. The leadership of the Governing Body, efforts by staff and the support of the Citizens of Manassas Park is reflected in this upgrade.

In its upgrade S&P references the City’s stable outlook stating that it “reflects our view of the City’s improving financial position and reserve levels, which is supported by adequate management that has recently strengthened certain fiscal policies. 

The outlook further reflects the City’s very strong liquidity, strong budgetary performance and adequate budget flexibility”. The complete Standard and Poor’s report can be found on the home page of the City’s website at www.cityofmanassaspark.us.