For the 44th consecutive year, the City of London has maintained its Aaa credit rating from Moody’s Investors Service.
It's the highest rating possible the company gives to municipalities and countries.
“The City of London has a long, proud history of financial stability and prudent fiscal management. The fact we were able to maintain this coveted rating during the midst of a pandemic and significant economic pressures is a testament to our Council members, our senior leadership team, and our talented finance team,” says Mayor Ed Holder in a news release.
“As a group, we pride ourselves on responsible use and allocation of taxpayer dollars. I believe this rating serves as the best kind of validation to that approach.”
Moody’s cited City Hall's fiscal plan and strong governance and management practices including its multi-year budget as factors in the Aaa rating.