Standard and Poor’s affirms strong credit ratings for the City of Rochester highlighting financial stability and responsible leadership

Rochester, New York – Rochester’s financial standing received a significant boost this week as Standard & Poor’s Global Ratings (S&P) reaffirmed the city’s reputation for strong fiscal management by assigning high credit ratings to its latest bond issuances. This news not only reflects the city’s solid financial health but also signals continued confidence from investors and business leaders looking toward Rochester as a place for growth and opportunity.

Mayor Malik D. Evans shared the news on Wednesday, announcing that S&P has awarded Rochester an ‘SP-1+’ short-term rating on its 2025 series II $171.3 million bond anticipation notes (BANS). In addition, the City earned an ‘AA-’ rating on its 2025 series III $30 million general obligation (GO) bonds. Both ratings represent some of the highest levels of confidence a city can receive for its ability to meet financial obligations. Moreover, S&P reaffirmed Rochester’s existing ‘AA-’ and ‘SP-1+’ ratings on outstanding general obligation and short-term debt. The outlook, according to the agency, remains stable.

“These strong ratings reflect the Administration’s commitment to responsible financial management and smart, strategic investments,” said Mayor Evans. “We’re not just balancing budgets: we’re building a stronger Rochester. These ratings confirm that we’re putting in the work to keep the City on solid financial footing while continuing to invest in housing, economic growth, and opportunities for all.”

Read also: State Police arrest Albany man after late night robbery at a gas station in the town of Malta

For those unfamiliar with how municipal bonds work, these credit ratings function much like personal credit scores. They help cities and towns borrow money at more favorable interest rates, which in turn saves taxpayer dollars and allows for greater investment in community priorities. High ratings also serve as an indicator of sound financial management, stable leadership, and a healthy local economy — all qualities that attract businesses, developers, and investors seeking certainty in an uncertain world.

S&P’s affirmation of Rochester’s financial strength didn’t happen by chance. The agency conducted a thorough evaluation of the City’s finances and praised several specific factors contributing to the positive ratings. Among those highlighted were stable financial operations, high reserve levels, and manageable fixed costs. These elements suggest Rochester has not only weathered recent economic challenges but is positioned well for the future.

Further supporting the City’s solid financial position are broader economic indicators. Sustained demand for housing, rising property values, and the City’s efforts to maintain strong reserve funds all played a role in securing the positive outlook. S&P also noted the importance of Rochester’s ongoing commitment to economic development, particularly in key areas such as the industrial, office, and housing sectors. This steady growth, paired with the City’s conservative budgeting and robust financial planning, sends a clear message that Rochester remains on a firm financial path.

For Mayor Evans and his administration, the announcement is not simply about numbers on a page; it’s about maintaining trust. These high ratings reinforce the City’s message to residents, businesses, and potential investors that Rochester is committed to fiscal responsibility while still prioritizing meaningful investments in the community’s future.

Read also: Flea Market Mashups bring fun and community spirit back to the Rochester Public Market this weekend

The positive ratings are expected to help the City as it moves forward with new initiatives, particularly those focused on housing development, job creation, and enhancing quality of life for residents. Lower borrowing costs mean more flexibility to fund important projects without placing undue strain on taxpayers.

For anyone interested in tracking Rochester’s financial trajectory or learning more about how these ratings impact the community, more information can be found through the City’s official channels and updates from Standard & Poor’s Global Ratings.

With this latest recognition, Rochester continues to build on its reputation as a city committed to responsible governance and long-term success.