The City of El Monte is proud to announce that S&P Global Ratings has affirmed the city’s underlying bond rating at A+ and its long-term rating on the city’s appropriation obligations at A. This significant achievement reflects the city’s strong creditworthiness and sound financial management practices.
The affirmation of the A+ rating is a notable improvement from previous ratings and indicates a stable outlook for the city’s financial future. The ratings were announced on February 21, 2025, and signify the city’s ongoing commitment to responsible fiscal policies and financial resilience.
S&P Global Ratings highlighted several credit strengths, including healthy available reserves and a manageable long-term liability profile. The report also pointed out that El Monte’s economic base is expected to grow, driven by ongoing development in the region.
City Manager Alma K. Martinez expressed her enthusiasm about this positive news, stating, “Achieving an A+ bond rating is a tremendous milestone for the City of El Monte. It underscores our commitment to fiscal responsibility and positions us to take advantage of lower borrowing costs, which will ultimately benefit our residents through enhanced public services and infrastructure improvements. This rating reflects the hard work of our dedicated staff and the collaborative efforts of the City Council in steering our city toward a prosperous future.”
The A+ bond rating allows the City of El Monte to borrow at lower interest rates, resulting in significant savings on future projects and obligations, thus enhancing the city’s financial flexibility.
The stable outlook from S&P Global Ratings demonstrates confidence in El Monte’s management practices and operational performance. The city remains focused on addressing potential challenges, including economic vulnerabilities, to maintain its strong financial position.
For more information about the city’s bond ratings and financial outlook, please contact the City Manager’s Office.