North Las Vegas gets credit rating boost from Fitch
North Las Vegas got a boost in its credit rating this week.
Fitch Ratings raised the city’s rating two notches from BB to BBB-. The move puts North Las Vegas in investment-grade territory.
“They’re definitely moving in a positive direction,” Fitch analyst Karen Ribble said Thursday. North Las Vegas last got a bump from Fitch in 2018.
The rating could save the city money in the long term, according to Finance Director William Harty. Rating increases for municipalities tend to mean lower interest payments on bonds.
The lowest rating the city reached was B in 2014, Ribble said. That rating is five notches below where the city is now.
North Las Vegas is still nine notches away from the top Fitch rating of AAA, Ribble said.
Credit rating agencies S&P Global Ratings and Moody’s Investors Service announced credit bumps for North Las Vegas last year.
Contact Blake Apgar at bapgar@reviewjournal.com or 702-387-5298. Follow @blakeapgar on Twitter.