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The City of Pearland received favorable ratings from Moody’s Investor Services and Fitch Ratings.
According to the city’s website, Moody's evaluated Pearland’s General Obligation issuances and gave it an Aa2 rating. Fitch gave it an AA rating.
“The rating reflects a large and growing tax base with above-average income levels and an improving financial position,” Moody’s rating read, according to the city’s website. Fitch’s evaluation said its rating shows Pearland’s financial strength that is proven by solid economic growth.
Moody’s rating this year was improved from negative to stable, recognizing its financial standing despite the COVID-19 crisis serving as a major impact for local businesses and the economy.
“The city has also been proactive in careful expense management in response to the coronavirus pandemic allowing for a structurally balanced budget to persist during the year,” its report read, according to the city's website.
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