The ‘AAA’ rating incorporates the city’s ‘aaa’ financial resilience assessment given a ‘High Midrange’ level of budgetary flexibility and Fitch’s expectation that general fund unrestricted reserves will be maintained at or above 10% of spending and transfers out, with audited fiscal 2024 reserves equivalent to 50% of general fund spending.
Wed 08 Oct, 2025 – 5:39 PM ET