City's Bond Rating Upgraded
Euless is one of 26 municipalities to receive an upgrade on the general obligation bonds from rating agency Standard & Poor's. The rating was increased from an AA- to an AA. This strong financial endorsement shows the City of Euless credit profile is strong and Euless is financially sound.
Euless' convenient access to employment opportunities throughout the region and continuing retail and residential development was recognized by S&P. The fiscal 2009 budget is balanced and at this time Euless does not plan to issue additional debt. Emphasis has been placed on delivering a balanced budget and using cash for one time projects rather than borrowing money.
S&P explained that Euless is one of several North Texas cities who upon further review is worthy of an upgraded rating due to its financial policy enhancements and its healthy fund balances. A full report on the City's financial stability published by S&P will be available in the coming months.