STAFF REPORT
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WILMER – The City of Wilmer has seen an increase recently in its S&P rating recently.
The city now boasts an “A” rating.
S&P Global Ratings analyzed the City of Wilmer and raised the previous rating from a “BBB+” to an “A.”
S&P states the rating increase was due to the “City’s financial profile and continued taxable assessed valuation growth resulting in improved economic metrics.”
In the past two years, Wilmer has accomplished a large difference in expansion in Dallas-Fort Worth which has led to a decrease in the 10-largest taxpayers to below 45% of the total tax base, along with an improved market value.
The city’s industrial, commercial, and residential developments are due to Wilmer’s AV doubling over the past two fiscal years.
S&P assessed Wilmer in the following categories: security, credit overview, environmental, social and governance, economic developments, management policies and practices, debt burden/debt plans, and finance credit.
S&P also did extensive related research on the City of Wilmer to ensure their decision on the rating change.
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