Page 48 - Grapevine FY20 Approved Budget

Rating Agency Reports

Moody’s Investors Service has issued a rating of Aa2 for Grapevine’s GO debt. The credit
position for Grapevine is very good, and its Aa2 rating is slightly stronger than the median rating
of Aa3 for US cities. The notable credit factors include a robust financial position, strong wealth
and income levels and an ample tax base. The credit position also reflects a manageable debt
burden and a moderate pension liability.

S&P Global Ratings has assigned its
‘AA+’ long term rating for Grapevine’s
GO debt. The rating reflects favorably on
the City’s:

• Very strong economy, with access
to a broad and diverse
metropolitan statistical area
• Strong management, with good
financial policies and practices
• Strong budgetary performance,
with operating surpluses in the
general fund and at the total
governmental fund level
• Very strong budgetary flexibility
• Very strong liquidity

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