The city just announced that Moody’s Investors Services and Standard & Poor’s (S&P) has affirmed Irving’s double AAA rating, making it one of only five cities in Texas with that rating. Irving has held the rating since 1996. The city reports that Irving’s April financings received very favorable ratings. The interest rate on the General Obligation Refinancing was 1.375%. The interest rate on the Bridges of Las Colinas Certificates of Obligation was 2.859% and the rate on the Ranchview Certificates of Obligation was 2.769%. These favorable interest rates allow Irving to maintain a low property tax rate. S & P also affirmed Irving’s AAA ratings of the city’s General Obligation (GO) refunding bonds, series 2013A combination tax and revenue certificates of obligation, and series 2013 combination tax and revenue certificates of obligation, as well as the city’s outstanding GO Bonds.

 

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