The city of Bellingham has earned recent recognition for its financial management, including a bond-rating upgrade from Standard & Poor’s and a financial-reporting award from the Government Finance Officers Association.
Standard & Poor’s Rating Services raised its long-term rating on the city’s limited-tax general obligation bonds to AA+ from AA.
Strong ratings help lower the city’s cost of borrowing when issuing bonds and act as a measure of the city’s financial health, according to Brian Henshaw, Bellingham’s interim finance director.
The S&P report on Bellingham’s general obligation bonds can be viewed here.
The Government Finance Officers Association award was given for meeting high standards and demonstrating a “spirit of full disclosure,” according to a news release from the city.