The City of Paso Robles has received an upgrade in its General Obligation (GO) Bond Rating from Fitch Ratings, moving from 'AA' to 'AA+'. This reflects Fitch’s confidence in the City's strong fiscal management, stable outlook, and solid general reserve levels.

Fitch Ratings also upgraded the City’s Issuer Default Rating (IDR), which measures the likelihood of default on financial obligations. The higher rating signals that Paso Robles is well-positioned to meet its financial commitments.

The upgrade benefits residents by reducing borrowing costs for the City. Lower interest rates on bonds free up funds for public projects, such as infrastructure improvements, parks, and public safety services. It also enhances the City’s financial stability, ensuring essential services can continue without increasing taxes.

“A higher rating is a strong vote of confidence in our City’s financial practices,” said Ryan Cornell, Administrative Services Director. “It reflects years of careful planning and our commitment to maintaining a stable fiscal environment.”

For the full Fitch Ratings report, visit: www.fitchratings.com. 

About Fitch Ratings
Fitch Ratings is a leading provider of credit ratings, commentary, and research. The ratings and insights they provide help market participants make better, more informed investment decisions.

For more information, please contact Ryan Cornell at rcornell@prcity.com