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Home > Leadership > Mayor > Public Statements/ Speeches > Standard and Poor’s Bond Upgrade for Buffalo

Standard and Poor’s Bond Upgrade for Buffalo

Public Statement
Mayor Byron W. Brown
June 22, 2009


Re: Standard and Poor’s Bond Upgrade for Buffalo


Standard and Poor’s upgrade of Buffalo’s general obligation bonds from BBB+ to A- confirms that the city’s financial health continues to improve.

Since I took office in 2006, the city’s bond rating has been upgrade twice by Standard and Poor’s and twice by Moody’s Investor Services. It’s clear Wall Street agrees that my Administration’s conservative budgeting and strict fiscal discipline are having a positive effect on Buffalo’s finances.

I thank Buffalo City Comptroller Andrew SanFilippo and his staff for working closely with my staff on helping us restore Buffalo’s fiscal stability. In addition, I commend the Common Council for passing the budgets I have sent to them, which cut taxes for our city’s residential and commercial property owners and enabled us to maintain a surplus hat has guarded us against the current state and national economic downturns.