WARWICK – Standard & Poor’s Rating Services has affirmed Warwick’s “AA-” bond rating with a stable outlook, citing the city’s budgetary performance and flexibility and its role as home to T.F. Green Airport and the InterLink station.
Warwick’s available reserves reached 5.7 percent of total general fund expenditures in fiscal year 2013, Standard & Poor’s said. Consistent general funds performance, strong liquidity and budgetary flexibility also contributed to the ratings agency’s decision to affirm the bond rating.
“I am pleased that Standard & Poor’s has determined that the city of Warwick’s economy is robust and growing, our budgetary practices are sound, and that our future outlook is bright,” said Mayor Scott Avedisian.
“I am proud of the hard work of our city’s finance team, who has helped to ensure Warwick’s continued fiscal health,” he added.