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Two credit rating agencies determined the City of Pearland’s 2020 bond issuances show high-grade credit worthiness.
Brazoria County’s largest city, which is home to around 122,000 people, earned an Aa2 and an AA rating from Moody’s Investor Services and Fitch Ratings, Inc., respectively.
Moody’s assessed its rating in response to Pearland cultivating a large and growing tax base with above average income levels and an improving financial position, while Fitch praised the city for its superior financial flexibility, Pearland’s website said.
The bonds are used to financially support long-term capital improvement projects aimed at enhancing safety and quality of life. These projects include city facilities, parks, and roads.
Both agencies reported Pearland’s rating outlook as stable. Even though the city – like the rest of the world – is dealing with the COVID-19 pandemic, its improved credit rating has it in a good financial position moving forward.
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