Home > News

Bond rating outcomes vary for 2018 debt plan

Posted June 5, 2018

Archived Content Information and links provided may no longer be accurate.

As part of the city’s 2018 debt plan, staff has met with rating analysts from Moody’s, Fitch, Standard & Poor’s, and Kroll over the past several weeks. The city sought ratings for several upcoming bond sales.

“As indicated by the rating agencies, pension reform is going to be pivotal in maintaining and improving the current ratings,” said CFO Aaron Bovos. “The city manager, along with the management team and the Pension Task Force, will continue to work diligently toward ensuring necessary actions are taken to address the city’s growing liabilities and underfunded pension.”

The city is currently negotiating pension plan reforms with city employees, and prompt agreement on a meaningful reform package, plus any legislative approval, will be critical.

Here is an overview of rating outcomes:

Fitch

General Obligation Rating. Assigned and affirmed rating of AA+. The outlook was revised to negative from stable.
Water Rating. Assigned and affirmed Water’s rating of AA with a stable outlook (no change).
Storm Water. Affirmed rating of AA+ with a stable outlook (no change).

S&P

General Obligation Rating. Assigned and revised rating to AA, from AA+ (one notch downgrade), with a stable outlook.
Water Rating. Affirmed rating of AA+ with a stable outlook (no change).

Moody’s

General Obligation Rating. Affirmed rating of Aa3 with a negative outlook (no change).
Water Rating. Affirmed rating of Aa1 with a stable outlook (no change).

Kroll

General Obligation Rating. Assigned rating of AA+ with a stable outlook (new rating).

Get articles like this in your inbox weekly. Subscribe to City News

City News

Calendar

Fort Worth Human Relations Commission Special Called Meeting: 7:30 a.m. Oct. 15, 2018; Hazel Harvey Peace Center for Neighborhoods, Room 201AB, 818 Missouri Ave.
View the agenda »

Collective Bargaining Negotiations with International Association of Fire Fighters, Local Union 440: 1:30 p.m. Oct. 15, 2018; IAFF Local 440 Office, 3855 Tulsa Way.
View the agenda »

NAS Fort Worth JRB Regional Coordination Committee: 1:30 p.m. Oct. 15, 2018; Sansom Park Council Chambers, 5705 Azle Avenue.
View the agenda »

Trinity Metro Commuter Rail Committee Working Session: 3:30 p.m. Oct. 15, 2018; Intermodal Transportation Center, 1001 Jones Street, 2nd Floor Community Room.
View the agenda »

Trinity Metro Planning, Operations & Marketing Committee Working Session: 4 p.m. Oct. 15, 2018; Intermodal Transportation Center, 1001 Jones Street, 2nd Floor Community Room.
View the agenda »

Trinity Metro Finance & Audit Committee Working Session: 4:30 p.m. Oct. 15, 2018; Intermodal Transportation Center, 1001 Jones Street, 2nd Floor Community Room.
View the agenda »

Task Force on Race and Culture: 5 p.m. Oct. 15, 2018; Meacham Conference Center, Third Floor, 201 American Concourse .
View the agenda »

Art Commission Special Called Meeting: 5:30 p.m. Oct. 15, 2018; Fort Worth Community Arts Center, 1300 Gendy Street.
View the agenda »

West Risinger Road Project Meeting: 6 p.m. Oct. 15, 2018; Grace Lutheran Church, 7900 McCart Ave.

Fort Worth Public Improvement District #1 Advisory Board Meeting: 9 a.m. Oct. 16, 2018; Downtown Fort Worth, Inc., 777 Taylor St.
View the agenda »

Legislative and Intergovernmental Affairs Committee: 2 p.m. Oct. 16, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
View the agenda »

Canceled Housing and Neighborhood Services Committee: 2 p.m. Oct. 16, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

Canceled AllianceAirport Authority: 2 p.m. Oct. 16, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

Canceled Lone Star Local Government Corporation: 2 p.m. Oct. 16, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

Fort Worth Local Development Corporation: 2:30 p.m. Oct. 16, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
View the agenda »

Canceled Central City Local Government Corporation: 2:30 p.m. Oct. 16, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

City Council Work Session: 3 p.m. Oct. 16, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
View the agenda »

City Council Meeting: 7 p.m. Oct. 16, 2018; Council Chambers, Second Floor, City Hall, 200 Texas Street.
View the agenda »

Notice of Public Hearing - Forest Park: 7 p.m. Oct. 16, 2018; City Council Chamber, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

Notice of Public Hearing - Chadwick Farms Park: 7 p.m. Oct. 16, 2018; City Council Chamber, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

Commercial Board of Adjustment Work Session: 9 a.m. Oct. 17, 2018; City Council Conference Room 290, 2nd Floor City Hall, 200 Texas Street.
View the agenda »

Commercial Board of Adjustment Public Hearing: 10 a.m. Oct. 17, 2018; City Council Chamber, 2nd Floor City Hall, 200 Texas Street.
View the agenda »

Residential Board of Adjustment Work Session: noon Oct. 17, 2018; City Council Conference Room 290, 2nd Floor City Hall, 200 Texas Street.
View the agenda »

Residential Board of Adjustment Public Hearing: 1 p.m. Oct. 17, 2018; City Council Chamber, 2nd Floor City Hall, 200 Texas Street.
View the agenda »

Rolling Town Hall: 6 p.m. Oct. 17, 2018; Mellow Johnny’s, 4801 Edwards Ranch Rd No.125.

Town Hall Meeting with District 4 Councilmember Cary Moon: 6:30 p.m. Oct. 17, 2018; Riverside Community Center, 3700 E. Belknap St.

Urban Design Commission REVISED: 10 a.m. Oct. 18, 2018; City Council Conference Room 290, 2nd Floor City Hall, 200 Texas Street.
View the agenda »

City of Fort Worth “Monthly Informational Forum for M/WBEs”: 11:30 a.m. Oct. 18, 2018; James E. Guinn Entrepreneurial Campus - Fort Worth Business Assistance Center, 1150 South Freeway.

Community Action Partners (CAP) Council: 1:30 p.m. Oct. 18, 2018; Fort Worth City Credit Untion, First Floor Board Room, 2309 Montgomery Street.
View the agenda »

Fort Worth Housing Solutions Regular Board Meeting: 5 p.m. Oct. 18, 2018; FWHA Administrative Office Board Room, 1201 East 13th Street.
View the agenda »

Fort Worth Affordability, Inc.: 5 p.m. Oct. 18, 2018; FWHA Administrative Office Board Room, 1201 East 13th Street.
View the agenda »

FWHS Board of Commissioners Public Meeting: 6 p.m. Oct. 18, 2018; FWHA Administrative Office Board Room, 1201 East 13th Street .
View the agenda »

Fort Worth Housing Solutions - Katy Station Lofts: 6 p.m. Oct. 18, 2018; FWHS Administrative Office, 1201 East 13th Street.
View the agenda »

Neighborhood Litter Stomp: 8 a.m. Oct. 20, 2018; Various.

Crud Cruiser Mobile Waste Collection: 9 a.m. Oct. 20, 2018; Gateway Church, 4205 Basswood Blvd.

Code Rangers: 9 a.m. Oct. 20, 2018; Hazel Harvey Peace Center for Neighborhoods, 818 Missouri Ave.

Responsible Pet Ownership Class (Spanish): 9 a.m. Oct. 20, 2018; Chuck Silcox Animal Care & Adoption Center, 4900 Martin St.

Frontier Fall Fest at Log Cabin Village: 1 p.m. Oct. 20, 2018; Log Cabin Village, 2100 Log Cabin Village Lane.
Register for this event »

Fall Festival at Worth Heights: 6 p.m. Oct. 20, 2018; Worth Heights Community Center, 3551 New York Ave.

View the full city calendar and current meetings.