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[Repost]

The City of Pontiac is proud to announce that it has received the bond rating of AA- from S&P Global Ratings, after being without a credit rating for over a decade.

The last time the City of Pontiac held a bond rating was in 2011, which was a rating of CCC, or “junk” status. Furthermore, this is the highest rating the city has ever achieved in its history. This rating marks a turning point in the city’s financial trajectory, positioning it firmly for future growth.

This prestigious rating reflects the city’s ongoing efforts to strengthen its financial position, responsible fiscal management, and investor confidence in its long-term economic stability. The AA- bond rating signifies the city’s strong creditworthiness, indicating a low credit risk for investors. This enables access to lower interest rates for public borrowing, ultimately saving taxpayer dollars.

“This is a proud moment for the City of Pontiac,” said Mayor Tim Greimel. “After years of diligent budgeting, strategic planning, and making tough but necessary decisions, we’ve proven that our city is on solid financial footing. This rating reflects our long-term commitment to fiscal responsibility and sustainable growth.”

The rating is based on the city’s continued improvements in financial operations since it was under emergency management over a decade ago, including balanced budgets, a minimal debt burden, growing reserves, and an expanding property and income tax revenue base.

The city also strategically partnered with ��è��Ƶ in November 2024 to help finalize the 2024 audit, catch up on accounting tasks, prepare and finalize the 2025 budget by the new charter date of May 31, and lead and reorganize the Finance Department to meet better the city’s needs. Those efforts were part of a broader strategy to restore fiscal health and provide a strong foundation for future investments in infrastructure, public safety, and economic development.

“This is more than just a number, it’s a signal to residents, businesses, and investors that the City of Pontiac is a stable and smart place to invest in,” said contracted Finance Director, Daniel Clark, CPA (Principal at ��è��Ƶ). “It helps us stretch every dollar further and fund critical projects that improve quality of life.”

��è��Ƶ is a professional advisory firm that provides accounting, business solutions, outsourcing, specialized consulting, and wealth management services. For over 80 years, ��è��Ƶ has provided forward-thinking solutions to their clients. They help look to the future with confidence, thanks to their equipped expertise and integrity. Through their partnerships with clients and communities, ��è��Ƶ produces impactful solutions that empower various companies and organizations, such as the City of Pontiac.