City of Pismo Beach Attains AA+ Credit Rating

Pismo Beach, California -The City of Pismo Beach proudly announces that it has achieved a remarkable milestone in its fiscal stewardship, as Standard and Poor's (S&P) has awarded the city with a prestigious AA+ credit rating. This esteemed rating reflects the city's strong financial management practices, prudent fiscal policies, and robust economic resilience.

The AA+ credit rating from S&P underscores the City of Pismo Beach's commitment to maintaining sound financial health and responsible governance. This rating places Pismo Beach among an elite group of municipalities recognized for their fiscal stability and creditworthiness.

Mayor Ed Waage expressed his gratitude and pride in the city's achievement, stating, "Receiving a AA+ credit rating from Standard and Poor's is a testament to the dedication and hard work of our city officials, staff, and community members. This recognition reaffirms our commitment to prudent financial management and positions Pismo Beach for continued growth and prosperity."

The City Manager, Jorge Garcia, emphasized the importance of this milestone for Pismo Beach's future endeavors, "Attaining a AA+ credit rating not only enhances the city's ability to access capital markets at favorable rates but also instills confidence in investors and stakeholders. It serves as a testament to our unwavering commitment to fiscal responsibility and long-term sustainability."

S&P's AA+ credit rating acknowledges Pismo Beach's strong economic fundamentals, diverse revenue streams, and proactive approach to budgetary planning. The rating agency highlighted the city's prudent debt management practices, ample reserves, and robust financial policies as key factors contributing to the elevated credit rating.

This significant achievement reflects the collaborative efforts of the City Council, city staff, and community members in maintaining Pismo Beach's financial resilience and preserving its reputation as a premier coastal destination.

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