City of Omaha receives high bond rating from major credit rating agencies [Video]

OMAHA, Neb. (WOWT) – After reviews from Moody’s Investors Services and S&P Global, Omaha’s bond rating will remain high between both organizations.

Following their review of Omaha’s 2023 financial condition, S&P assigned a AA+ rating with a stable outlook, the organization’s second highest rating.

Moody’s Investors Services assigned Omaha with its third highest rating of Aa2 with a stable outlook on the city’s General Obligation Bonds.

In a statement Thursday, the City of Omaha said that the bond rating agencies credited Mayor Stothert’s “strong financial management, conservative budgeting, business and job growth, recent voter-approved General Obligation bonds, and sizeable reserve accounts” as factors in the high ratings.

According to the statement, the City’s cash reserve funds total $70.5 million, up from $11 million when Stothert was elected.

“Strong bond ratings are critical to maintain Omaha’s strong growth and momentum,” Mayor Stothert said. “The bond rating agencies recognize our record of …