TOPEKA, Kan. (WIBW)-- Topeka city officials say an upgraded bond rating will save taxpayers thousands of dollars.
Standard and Poor's announced it upgraded the city of Topeka's long term general obligation bond rating, citing the stability of the city's financial outlook.
Last May, Moody's downgraded the rating from "AA2" to AA3".
Thursday, S&P increased it to their high grade of "AA".
City officials say the increased confidence means 5 point 5 million dollars in new bonds issued later this year will save an estimated $70,000 over their lifetimes.
Posted by Greg Palmer
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