Page 52 - Grapevine Budget FY21

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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