Standard and Poor's assigns AA+ rating to City
 Lynnwood, WA (September 28, 2022) – On September 16, 2022, 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 2022 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:
- Growing economic base that is supported by the City's position as a destination retail center;
- Strong financial profile, with robust reserves and a history of stable operating results;
- Strong financial policies and practices, including regular budget monitoring, long-term planning, and formal reserve targets;
- Manageable fixed-cost profile, with no plans for additional debt.
Mayor Christine Frizzell noted that "achieving a AA+ bond rating is the result of the City of Lynnwood's commitment to ensuring financial stability and economic success in accordance with our strategic plan."
“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 and strategic financial management.”
Contact:
Julie Moore, Assistant City Administrator
jmoore@LynnwoodWA.gov
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