Ratings on Outstanding City Bonds
Most of the City's debt is rated by one or more national rating agencies, including Moody's Investors Service and Standard & Poor's. Since 1976, the City's unlimited tax general obligation debt has been rated "Aaa" by Moody's Investors Service. Only a small number of issuers, including Portland, have obtained a Moody's "Aaa" rating based on their own credit quality and without the use of credit enhancements such as bond insurance. The City's limited tax revenue bonds are currently rated Aaa by Moody's. Most of the City's revenue credits are rated between "Aa3" and "Aaa" by Moody's and either "AA" or "AA-" by Standard & Poor's. The City's urban renewal bonds are rated either A1 or Aa3.