San Antonio’s credit worthiness to be evaluated after charter amendment vote
Fitch Ratings, one of the three major agencies that determine the credit ratings, said it plans to re-evaluate San Antonio’s profile after the approval of two of three proposed charter amendments.
“Any time expenditure flexibility is materially affected, which we believe Proposition C does, we will assess those changes and their impact to the city’s credit quality,” said Jose Acosta, a senior director for Fitch.
RELATED: Propositions A, B and C explained
City Manager Sheryl Sculley said she expects to discuss the “overall revenue and expense picture” of San Antonio and the effect of the Nov. 6 vote with Fitch in a pre-scheduled meeting next month.
“We will do everything in our power to address their concerns and maintain our AAA rating,” she said.
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Josh Baugh is a staff writer in the San Antonio and Bexar County area. Read him on our free site, mySA.com, and on our subscriber site, ExpressNews.com. | email@example.com | Twitter: @jbaugh