Standard and Poor's assigns AA+ rating to City
 Lynnwood, WA (June 9, 2021) – On May 26, 2021, Standard and Poor’s Global Ratings (S&P), the world’s leading provider of independent credit ratings, assigned its ‘AA+’ long-term rating to the City of Lynnwood’s 2021 limited-tax general obligation bonds and reaffirmed that same rating on the City’s outstanding bonds with a stable outlook.
S&P indicated that the following factors were taken into consideration in developing the City’s rating:
- Very strong economy within a broad and diverse metropolitan statistical area,
- Strong management with good financial policies and practices,
- Very strong budgetary flexibility and adequate budgetary performance,
- Very strong cash balances and low debt liability.
Mayor Nicola Smith noted that “this AA+ bond rating represents a very high level of creditworthiness and will allow the city to borrow funds at very low interest rates, which will translate to real savings in our budget.”
“We are very pleased that the city has once again achieved high quality credit ratings” said Michelle Meyer, Lynnwood’s Finance Director. “The ratings affirm the commitment of the Mayor, City Council, and staff to prudent, strategic financial management which was evidenced as tough budget decisions were made in response to the COVID-19 pandemic.”
Contact:
Michelle Meyer Finance Director
mmeyer@LynnwoodWA.gov
425-670-5141 mmeyer@lynnwoodwa.gov
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