City Of Williston’s Credit Rating Soars With S&P Global Upgrade

S&P Global has upgraded the City of Williston's long-term rating from "A+’ negative to "A+’ stable for its outstanding improvement bonds and general creditworthiness."

Leading financial analytics and credit rating organization S&P Global offers risk analyses, market intelligence, and economic data to governments, businesses, and investors all over. The company assesses the creditworthiness of financial instruments, companies, and municipalities, therefore guiding stakeholders in their financial decisions and investments.

Hercules Cummings, the City of Williston Finance Director, pointed out several important elements in S&P's rating that would help the City's financial stability be strengthened: improved budget planning, including open financial reporting and the creation of a five-year capital improvement plan.

Strong credit ratings directly affect the City of Williston's borrowing capacity, the availability of funding sources, and the borrowing cost to satisfy both short-term and long-term financial needs.

"Achieving an investment-grade credit rating shows the City's commitment to sound fiscal management and indicates a low default risk, which is necessary for drawing in businesses and investments, as well as ensuring economic stability." Cummings responded. "It also is evidence of our careful handling of the money belonging to our people."

Cummings pointed out that the City of Williston will keep giving top priority to critical capital projects while effectively managing its expenses and rebuilding cash reserves in the General Fund and Gross Production Tax fund; S&P Global advised that keeping reserves and under control will help to maintain the City's A+ Stable rating.

"The credit rating of the City of Williston reflects directly the commitment and financial responsibility shown by our City Commission, finance department, and all other city departments." Said Shawn Wenko, Williston City Administrator.

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"Their dedication to openness, wise financial planning, and sensible budgeting has set our city on a more robust economic road. This success highlights our shared efforts to guarantee long-term financial stability while still offering our people premium services. I admire our staff for their diligence and unwavering direction in forward movement of Williston."