The City of Oneonta announced its long term debt rating has been upgraded by
Standard and Poor’s.

According to a news release the rating has improved from “AA-“ from “A+” on the City of Oneonta’s general obligation debt showing that S&P believes the City has strong financial management.

This rating review was conducted in anticipation of the City’s issuance of $4.2 million in general obligation bonds next month and the higher rating will result in lower long term interest rates and lower costs to taxpayers over the life of the bonds.