Home > News

Bond rating outcomes vary for 2018 debt plan

Posted June 5, 2018

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

Trinity Metro Commuter Rail Committee Working Session: 3:30 p.m. June 18, 2018; Intermodal Transportation Center, 2nd Floor Community Room, 1001 Jones Street.
View the agenda »

Trinity Metro Planning, Operations & Marketing Committee Working Session: 4 p.m. June 18, 2018; Intermodal Transportation Center, 2nd Floor Community Room, 1001 Jones Street.
View the agenda »

Task Force on Race and Culture: 5 p.m. June 18, 2018; Fort Worth Botanic Gardens, Deborah Moncrief Garden Center, Oak Hall, 3220 Botanic Garden Boulevard.
View the agenda »

Fort Worth Housing Solutions - Notice of Possible Quorum: Envision Center Press Conference & Tour: 10 a.m. June 19, 2018; Envision Center, 5655 Truman Drive.
View the agenda »

Botanic Garden Task Force: 11:30 a.m. June 19, 2018; Deborah Beggs Moncrief Garden Center, Fort Worth Botanic Garden, 3220 Botanic Garden Boulevard.
View the agenda »

Canceled Fort Worth Local Development Corporation: 2 p.m. June 19, 2018; City Hall, Secind Floor, Conference Room 290, 200 Texas Street.

Canceled Central City Local Government Corporation: 2 p.m. June 19, 2018; City Hall, Secind Floor, Conference Room 290, 200 Texas Street.

Canceled AllianceAirport Authority, Inc.: 2 p.m. June 19, 2018; City Hall, Secind Floor, Conference Room 290, 200 Texas Street.

Canceled Lone Star Local Development Corporation: 2 p.m. June 19, 2018; City Hall, Secind Floor, Conference Room 290, 200 Texas Street.

Canceled City Council Work Session: 3 p.m. June 19, 2018; City Hall, Second Floor, Council Conference Room 290, 200 Texas Street.

Canceled City Council Meeting: 7 p.m. June 19, 2018; City Hall, Second Floor, Council Chambers, 200 Texas Street.

Commerical Board of Adjustment Work Session: 9 a.m. June 20, 2018; Council Conference Room 290, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

Commercial Board of Adjustment Public Hearing: 10 a.m. June 20, 2018; Council Chambers, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

Residential Board of Adjustment Work Session: 12:30 p.m. June 20, 2018; Council Conference Room 290, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

Residential Board of Adjustment Public Hearing: 1:30 p.m. June 20, 2018; Council Chambers, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

Budget Stakeholder's Meeting: 3 p.m. June 20, 2018; Budget Stakeholder's Meeting, 200 Texas Street, Fort Worth, TX 76102.

Tax Increment Reinvestment Zone Number Nine (Trinity River Vision TIF) Board of Directors: 4 p.m. June 20, 2018; Ideal Works, 2nd Floor Conference Room, 600 Rosedale.
View the agenda »

North Hi Mount Streetlights Project Meeting: 6 p.m. June 20, 2018; University of North Texas Science Center Carl E. Everett Education & Administration Building, Room 291, 3500 Camp Bowie Blvd.

Urban Design Commission Work Session: 9:30 a.m. June 21, 2018; City Hall, second floor, Council Conference Room 290, 200 Texas Street.
View the agenda »

Urban Design Commission Public Hearing: 10 a.m. June 21, 2018; City Hall, second floor, Council Conference Room 290, 200 Texas Street.
View the agenda »

Canceled City of Fort Worth “Monthly Informational Forum for M/WBEs”: 11:30 a.m. June 21, 2018; James E. Guinn Entrepreneurial Campus - Fort Worth Business Assistance Center, 1150 South Freeway.

Community Action Partners Council: 1:30 p.m. June 21, 2018; Fort Worth City Credit Union, First Floor Board Room, 2309 Montgomery Street.
View the agenda »

Trinity River Public Facility Corporation Special Meeting: 5 p.m. June 21, 2018; FWHS Administrative Office Board Room, 120 East 13th Street.
View the agenda »

Fort Worth Housing Solutions Regular Meeting: 5 p.m. June 21, 2018; FWHS Administrative Office Board Room, 1201 East 13th Street.
View the agenda »

North Beach Street Streetlights Project Meeting: 6 p.m. June 21, 2018; Lakeland Street Baptist Church, 3551 cindy Drive.

Ridglea Area Infrastructure Improvements Project Meeting: 6:30 p.m. June 21, 2018; R.D. Evans Community Center, 3242 Lackland Road.

Fort Worth Housing Solutions Board of Directors - Notice of Possible Quorum: 15th Annual City of Fort Worth Housing Summit: 8:30 a.m. June 23, 2018; Cendera Center, 3600 Benbrook Highway.
View the agenda »

Swimming Lessons - Registration begins for Session 2: 9 a.m. June 23, 2018; Forest Park Pool, 2850 Park Place Ave.
Register for this event »

Crud Cruiser Mobile Waste Collection: 9 a.m. June 23, 2018; Riverside Community Center , 3700 E. Belknap St.

Crud Cruiser Mobile Waste Collection: noon June 23, 2018; Hazel Harvey Peace Center , 818 Missouri Ave.

View the full city calendar.