S&P affirms city’s ‘AA-‘ credit rating

Standard & Poor’s Financial Services this week affirmed the City of Biloxi’s excellent credit rating of “AA-/Stable,” based on the city’s economy, financial management and ability to pay its debt. 

An AA rating is the second highest on the 10-point scale, which ranges from AAA to D. An AA rating, S&P says, differs from the highest rating “only to a small degree.” An AA rating means the city’s capacity to meet its financial commitments is “very strong” while the highest rating, AAA, means a city’s capacity is “extremely strong.”