Sunday, May 19, 2024
Sunday, May 19, 2024

Rating Action: Moody’s Upgrades Lafayette Special Tax Rating

Submitted by Lafayette Consolidated Goverment

LAFAYETTE, LA (Apr. 10, 2024) – Moody’s Investors Service (“Moody’s”) has announced an upgrade to the special tax rating of Lafayette from Aa3 to Aa2, reflecting the city’s strengthened financial profile and fiscal management. Additionally, Moody’s has assigned an Aa2 rating to the new sales tax bonds.

Moody’s decision to upgrade Lafayette’s special tax rating to Aa2 highlights the Boulet Administration’s commitment to prudent financial management and future fiscal stability. The upgrade reflects Lafayette’s robust revenue base, conservative budgeting practices, and proactive debt management strategies.

“This rate increase speaks to our financial team, led by CFO Karen Fontenot. Our team has established strong fiscal policies and credibility that will help us for years to come,” said Mayor-President Monique B. Boulet. “This rating increase will save taxpayer dollars and allow more funds to be used for critical projects.”

In addition to the rating upgrade, Moody’s has assigned an Aa2 rating to Lafayette’s new sales tax bonds, reflecting the city’s stable economic base and low debt burden.

The upgrade of Lafayette’s special tax rating and the assignment of an Aa2 rating to the new sales tax bonds reflect Moody’s confidence in the city’s financial strength and creditworthiness. Lafayette remains dedicated to fiscal responsibility and prudent stewardship of public resources, ensuring a bright and prosperous future for residents, businesses, and investors.

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