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San Juan Capistrano's general obligation bonds upgraded to AAA
Move reflects the city's thriving economic base.
Breanna MoorePublished: November 19, 2009 11:46 AM
San Juan Capistrano's general obligation bonds have been upgraded from AA+ to a AAA rating by Standard & Poor. The move reflects the city’s thriving economic base.
Currently, San Juan Capistrano has $5.2 million in outstanding GO bonds from a 1998 issuance that matures in 2017.
Voters last year approved a measure that allows San Juan Capistrano to sell up to $30 million more in bonds, which the city can then use to obtain additional land for open space preservation and improvements.
S&P, a financial services company that publishes research and analysis on stocks and bonds, says the upgraded GO bond rating is based on the city’s growing economy.
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Currently, San Juan Capistrano has $5.2 million in outstanding GO bonds from a 1998 issuance that matures in 2017. Voters last year approved a measure that allows San Juan Capistrano to sell up to $30 million more in bonds, which the city can then use to obtain additional land for open space preservation and improvements. S&P, a financial services company that publishes research and analysis on stocks and bonds, says the upgraded GO bond rating is based on the city’s growing economy. NEXT PAGE >> Related headlines 51 percent of first-time buyers can afford O.C. home Real estate market affected by short sales Waste Management of O.C. launches $1.7 million system |
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