The City of Desert Hot Springs is proud to announce that the City has earned an “A+” rating from S&P Global Ratings.
S&P, or Standard & Poor’s, is a respected worldwide organization that provides credit ratings for businesses and other entities.
With this new rating, the City of Desert Hot Springs has been upgraded from an A- to a stellar A+.
According to S&P, this rating signifies that Desert Hot Springs “has strong capacity to meet its financial commitments.”
This new rating will allow the City to fund future projects at even better interest rates, and should attract more businesses to our City.
“The new rating is wonderful news for Desert Hot Springs residents and stakeholders,” Mayor Scott Matas said. “It represents the work that the City Council has done so far to make our City financially stable. As we look to the future, the new rating will allow us to accomplish even more for our residents.”
This is just the latest piece of positive financial news for Desert Hot Springs. In October, the City was ranked one of the most fiscally healthy Cities in the entire State of California.
Just last week, the City announced that revenue sources are strong and growing year on year.
Stay tuned for more information about how Desert Hot Springs continues to move forward.