LOS ANGELES — Standard & Poor’s raised its long-term rating to AA-minus from A-plus on Kelso, Wash.’s 2008 general obligation bonds.
S&P gave a stable outlook to the southwest Washington city’s GO bonds, reflecting the rating agency’s view of its strong budgetary flexibility, supported by strong liquidity and low debt levels.
"The rating action reflects our view of the city's improved economic profile and moderation of county unemployment rates," said Standard & Poor's credit analyst Kaiti Wang.
The city’s outstanding debt includes $2.4 million in GOs and $4.6 million in 2010 revenue bonds, according to its most recent comprehensive annual financial report ended Dec. 31, 2013.
