City of Asheville Receives Strong Credit Rating Affirmations and Upgrade from S&P Global Ratings - The City of Asheville

April 30, 2026 - 22:57

The City of Asheville has received a strong financial vote of confidence from S&P Global Ratings. The agency revised the city's debt outlook from negative to stable, while also affirming its highest possible 'AAA' long-term rating on general obligation debt. In addition, S&P affirmed the 'AA+' rating on the city's lease obligation bonds and upgraded its special obligation bonds.

This news signals that Asheville is on solid financial ground despite recent challenges. The upgrade reflects the city's improved financial management and growing economic resilience. Officials noted that the stable outlook means S&P expects the city to maintain its strong budgetary performance and low debt burden over the next two years.

The 'AAA' rating is the highest available and indicates that Asheville has an extremely strong capacity to meet its financial commitments. It also helps the city borrow money at lower interest rates, saving taxpayer dollars on future infrastructure projects. The upgrade on the special obligation bonds is particularly notable, as it shows increased confidence in revenue streams tied to specific projects.

City leaders say the ratings affirm their conservative budgeting and long-term planning. They also point to Asheville's diverse economy and growing tax base as key factors. While the city has faced natural disasters and economic uncertainty in recent years, this report suggests its financial foundation remains sturdy. The positive news should help Asheville continue investing in roads, water systems, and public safety without straining its budget.