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Bond rating outcomes vary for 2018 debt plan

Posted June 5, 2018

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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).

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Audit Committee: 2 p.m. Oct. 23, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
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City Council Work Session: 3 p.m. Oct. 23, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
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City Council Meeting: 7 p.m. Oct. 23, 2018; Council Chambers, Second Floor, City Hall, 200 Texas Street.
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Metropolitan Area EMS Authority/MedStar Mobile Healthcare: 10 a.m. Oct. 24, 2018; MedStar Mobile Healthcare, 2900 Alta Mere Drive.
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City Plan Commission Work Session: 11:30 a.m. Oct. 24, 2018; City Hall, Second Floor, Council Conference Room 290, 200 Texas Street.
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City Plan Commission Public Hearing: 1:30 p.m. Oct. 24, 2018; City Hall, Second Floor, Council Chambers, 200 Texas Street.
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Park & Recreation Advisory Board Work Session: 3 p.m. Oct. 24, 2018; Diamond Hill Community Center, 1701 Northeast 36th Street.
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Park & Recreation Advisory Board Meeting: 4 p.m. Oct. 24, 2018; Diamond Hill Community Center, 1701 Northeast 36th Street.
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Rolling Townhall: Spooky Bike Ride: 5:30 p.m. Oct. 24, 2018; Western Heritage Plaza (in front of the Museum of Science and History), 1600 Gendy St.

Arlington Heights Stormwater Meeting: 6 p.m. Oct. 24, 2018; Fort Worth Professional Firefighters Hall, 3855 Tulsa Way.

Central Arlington Heights Public Meeting - Voluntary Property Acquisitions: 6 p.m. Oct. 24, 2018; Fort Worth Professional Firefighters Hall, 3855 Tulsa Way.

Emergency Physicians Advisory Board: 12:30 p.m. Oct. 25, 2018; TCMS Building, 3rd Floor, 555 Hemphill.
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Lights On Afterschool at Greenbriar: 5 p.m. Oct. 25, 2018; Greenbriar Community Center, 5200 Hemphill St.

Fall Festival at Chisholm Trail: 6 p.m. Oct. 25, 2018; Chisholm Trail Community Center, 4936 McPherson Blvd.

Responsible Pet Ownership Class: 6 p.m. Oct. 25, 2018; Chuck Silcox Animal Care & Adoption Center, 4900 Martin Street.

Fort Worth Business Plan Competition Finals: 6 p.m. Oct. 25, 2018; TCU Brown Lupton University Union Ballroom, 2901 Stadium Drive.
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Collective Bargaining Negotiations with International Association of Fire Fighters, Local Union 440: 1:30 p.m. Oct. 26, 2018; IAFF Local 440 Office, 3855 Tulsa Way.
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Lead Safe Community Resource Fair: 4 p.m. Oct. 26, 2018; La Gran Plaza Mall, 4200 South Fwy.

Fall Festival at Diamond Hill: 5 p.m. Oct. 26, 2018; Diamond Hill Community Center, 1701 NE 36th St.

Fall Festival at Highland Hills: 6 p.m. Oct. 26, 2018; Highland Hills Community Center, 1600 Glasgow Rd..

Fall Festival at Hillside: 6 p.m. Oct. 26, 2018; Hillside Community Center, 1201 E. Maddox Ave.

Fall Festival at Greenbriar: 6 p.m. Oct. 26, 2018; Greenbriar Community Center, 5200 Hemphill St.

Fall Festival at R.D. Evans: 7 p.m. Oct. 26, 2018; R.D. Evans Community Center, 3242 Lackland Rd..

Fall Festival at Fire Station Community Center: 7 p.m. Oct. 26, 2018; Fire Station Community Center, 1601 Lipscomb St.

Restaurant Boot Camp: For New and Existing Restaurant Owners: 9 a.m. Oct. 27, 2018; Business Assistance Center at the Guinn Campus, 1150 South Freeway.
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Overcoming Trauma Domestic Violence Youth & Families Summit and Community Resource Fair: 9 a.m. Oct. 27, 2018; Christ Chapel Bible Church, 3701 Birchman Ave.
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Everything You Need to Start a Business: 9 a.m. Oct. 27, 2018; Business Assistance Center at the Guinn Campus, 1150 South Freeway.
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Halloween Carnival at North Tri-Ethnic: 10 a.m. Oct. 27, 2018; North Tri-Ethnic Community Center, 2950 Roosevelt Ave.

Fall Festival at Andrew Doc Session: 10 a.m. Oct. 27, 2018; Andrew Doc Session Community Center, 201 S. Sylvania Ave.

Fall Festival at Southside: 11 a.m. Oct. 27, 2018; Southside Community Center, 959 E. Rosedale St.

Fall Festival at Northside: 2 p.m. Oct. 27, 2018; Northside Community Center, 1100 NW 18th St.

View the full city calendar and current meetings.