Mayor Solomon Announces that S & P Global has Reaffirmed Warwick’s AA Bond Rating

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WARWICK – Mayor Joseph J. Solomon announced today that S & P Global Ratings has assigned an “AA” long-term rating for the City’s general obligation bonds, re-affirmed its “AA” long-term rating on the City’s existing debt, and re-affirmed the outlook on all ratings as stable, despite the impact of the COVID-19 pandemic on the City’s economy. In its assessment, the firm cited the City’s very strong economy, strong budgetary flexibility, and very strong liquidity and debt and contingent liability position as factors in its decision.

 

“I am very pleased that S & P has recognized our ongoing efforts to ensure the fiscal health of our community, despite the many challenges that COVID-19 has presented us,” the Mayor said. “My administration will continue to work diligently to make sure that we are positioned well financially now, and long after the pandemic subsides.”