The city of Glendale has received an upgraded bond rating from S&P Global Ratings, moving from AA to AA+. The increase reflects the city’s fiscal management and economic growth. Bond ratings help investors assess the quality and stability of bonds.
“The City Council and city management’s fiscal stewardship over the past decade has strengthened Glendale’s financial health,” Assistant City Manager Vicki Rios said. “S&P’s decision affirms that the city is on a solid and sustainable path.”
S&P cited Glendale’s expanding economy, population growth, business diversity and new investments as factors boosting city revenues and reserves. Those trends provide flexibility to maintain services and infrastructure while staying financially stable.
“Since taking office, I have remained focused on strengthening Glendale’s financial position,” Mayor Jerry P. Weiers said. “Each improvement in our credit rating affirms the positive direction of our city and creates greater opportunities to invest in the priorities that matter most to our residents.”
The upgrade follows a series of bond rating increases since 2016. In October 2024, Moody’s Investor Services raised the city’s general obligation bonds, senior and subordinate lien excise tax bonds, and transportation sales tax bonds to Aa3 from A1.