November 4, 2013 11:35 PM

Business Notebook

Columbia’s bond rating by Standard & Poor’s rose to the highest score for taxpayer-backed bonds, the city manager announced Monday. The city’s rating for general obligation bonds is now AA-plus, up from AA, Teresa Wilson said in a news release. S&P was able to accurately assess the city’s strengths and challenges that lay ahead, the news release states. While room for improvement exists, Standard & Poor’s upgrade stands as acknowledgement that the city of Columbia is on the right path. “We are very proud of the increased general obligation rating from Standard & Poor’s,” Wilson said. “This rating will yield a solid fiscal position for Columbia as we navigate our future opportunities within the financial industry.”

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