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

MedStar Foundation Board of Directors Meeting: noon Aug. 20, 2018; MedStar Mobile Healthcare, 2900 Alta Mere Dr.
View the agenda »

Metropolitan Area EMS Authority DBA Medstar Mobile Healthcare Board Budget Review: 3 p.m. Aug. 20, 2018; MedStar Mobile Healthcare, 2900 Alta Mere Drive.
View the agenda »

Trinity Metro Commuter Rail Committee Working Session: 3:30 p.m. Aug. 20, 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. Aug. 20, 2018; Intermodal Transportation Center, 2nd Floor Community Room, 1001 Jones Street.
View the agenda »

Trinity Metro Finance & Audit Committee Working Session: 4:30 p.m. Aug. 20, 2018; Intermodal Transportation Center, 2nd Floor Community Room, 1001 Jones Street.
View the agenda »

Task Force on Race and Culture: 5 p.m. Aug. 20, 2018; Oak Hall, Deborah Beggs Moncrief Garden Center, 3220 Botanic Garden Boulevard.
View the agenda »

Basswood Boulevard & Kroger Drive Infrastructure Improvements: 6 p.m. Aug. 20, 2018; Summerglen Library, 4205 Basswood Blvd.

Fort Worth Housing Finance Corporation: 3 p.m. Aug. 21, 2018; Conference Room 290, Second Floor, City Hall, 200 Texas Street.
View the agenda »

Central City Local Government Corporation: 3 p.m. Aug. 21, 2018; Conference Room 290, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

Fort Worth Local Development Corporation: 3 p.m. Aug. 21, 2018; Conference Room 290, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

AllianceAirport Authority, Inc.: 3 p.m. Aug. 21, 2018; Conference Room 290, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

Canceled Lone Star Local Government Corporation: 3 p.m. Aug. 21, 2018; Conference Room 290, 2nd Floor, City Hall, 200 Texas Street.

City Council Work Session: 5 p.m. Aug. 21, 2018; Council Conference Room 290, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

City Council Meeting: 7 p.m. Aug. 21, 2018; Council Chambers, 2nd Floor, City Hall, 200 Texas Street.
View the agenda »

Metropolitan Area EMS Authority DBA MedStar Mobile Healthcare Board of Directors: 10 a.m. Aug. 22, 2018; MedStar Mobile Healthcare, 2900 Alta Mere Drive.
View the agenda »

Shaping Your Policy and Culture with Employee Handbooks: 11:30 a.m. Aug. 22, 2018; James E Guinn Entrepreneurial Campus, 1150 S. Freeway.

City Plan Commission Work Session: noon Aug. 22, 2018; City Hall, Second Floor, Council Conference Room 290, 200 Texas Street.
View the agenda »

City Plan Commission Public Hearing: 1:30 p.m. Aug. 22, 2018; City Hall, Second Floor, Council Chambers, 200 Texas Street.
View the agenda »

Park and Recreation Advisory Board Work Session: 3 p.m. Aug. 22, 2018; Deborah Beggs Moncrief Garden Center, Fort Worth Botanic Garden, 3220 Botanic Garden Boulevard.
View the agenda »

Park and Recreation Board Meeting: 4 p.m. Aug. 22, 2018; Deborah Beggs Moncrief Garden Center, Fort Worth Botanic Garden, 3220 Botanic Garden Bouelvard.
View the agenda »

Walking Town Hall: 6 p.m. Aug. 22, 2018; Northwest Community Park, 8575 Blue Mound Rd.

Quickbooks for Beginners - Desktop and Online Editions: 9 a.m. Aug. 23, 2018; James E Guinn Entrepreneurial Campus, 1150 S. Freeway.

Urban Design Commission Work Session: 9:30 a.m. Aug. 23, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
View the agenda »

Brunch at the BAC with Mayor Betsy Price: 10 a.m. Aug. 23, 2018; James E. Guinn Entrepreneurial Campus, Business Assistance Center, 1150 S. Freeway.

Urban Design Commission Public Hearing: 10 a.m. Aug. 23, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
View the agenda »

FW Sports Authority, Inc. Board Meeting: noon Aug. 23, 2018; Fort Worth Convention Center, Executive Board Room, 1201 Houston Street.
View the agenda »

Responsible Pet Ownership Class: 6 p.m. Aug. 23, 2018; Chuck Silcox Animal Care & Adoption Center, 4900 Martin Street.

College Fair at Sycamore: 6 p.m. Aug. 23, 2018; Sycamore Community Center, 2525 E. Rosedale.

Sylvania Avenue Restriping Project Meeting: 6 p.m. Aug. 23, 2018; Riverside Baptist Church, 3101 Race St.

Minority and Women Business Enterprise Advisory Committee Meeting: 11:30 a.m. Aug. 24, 2018; James E. Guinn Building, First Floor, PharmaFab Conference Room #116, 1150 South Freeway.
View the agenda »

View the full city calendar and current meetings.