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City of Lynnwood Receives Increase in S & P Bond Rating

On March 7, 2014, the City of Lynnwood received notification from Standard and Poor’s (S&P) that the City’s long term and underlying bond ratings on existing limited tax general obligations bonds, have been raised from “A+” to “AA+”.

S&P also raised the bond rating for the Lynnwood Public Facilities District's 2004A and B convention center sales tax bonds and 2005 revenue bonds, issued on behalf of the city, from “A” to “AA+”.
S&P indicated that the following factors were taken into consideration in developing the City’s new rating:

  • A strong local retail and small business based economy, 
  • Very strong overall budgetary flexibility and performance, 
  • Strong liquidity (cash) position, 
  • Favorable Debt Profile, 
  • Strong management conditions with good financial management practices.

“We are pleased that S&P recognizes that the City has rebounded economically by utilizing budgetary flexibility and strong financial and management practices” said Lorenzo Hines Jr., Lynnwood’s Finance Director.

Standard & Poor’s is a leading provider of financial market intelligence and the world’s foremost source of credit ratings, indices, investment research, risk evaluation and data.

A suburb of Seattle, WA, Lynnwood, WA has a diverse population of approximately 36,000 and maintains a vibrant residential community while boasting a regional commercial and economic presence as well.