S&P Global Ratings has assigned an ‘AA+’ rating to the City & Borough of Juneau’s series 2023 general obligation (GO) bonds and affirmed the AA+ rating on CBJ’s existing GO debt. The AA+ rating indicates a “very strong capacity to meet financial commitments” and is the highest rating usually awarded to communities Juneau’s size.
S&P’s analysis cited Juneau’s strong local economy and good financial-management policies as key factors in the rating. The analysis noted that “long-term economic trajectory will likely remain stable because Juneau has shown resilience to navigate uncertainty.”
“This is real evidence of the positive outlook for Juneau’s economy,” said CBJ Finance Director Jeff Rogers. “The AA+ rating reflects not only CBJ’s ongoing commitment to fiscal responsibility but shared efforts throughout the community to restart the local economy and rebound from COVID-19. It’s rewarding to see a third party recognize what we’re doing right.”
The full rationale is available in PDF form here.
Credit ratings measure an organization’s creditworthiness, or how likely it is that they will repay their debts on time and in full. For more information about credit ratings and the ratings process, visit S&P’s Understanding Credit Ratings webpage.