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Camden maintains ‘A’ Rating from S&P

Posted: September 6, 2012 9:52 p.m.
Updated: September 7, 2012 5:00 a.m.

The city of Camden has maintained its “A” rating and “stable” outlook from Standard & Poor’s (S&P) Ratings Services. The city has continued to demonstrate good fiscal control during an exceptionally tough economy and is reinvesting its own money into reinforcing utility infrastructure, S&P said in a press release. The city also continues to work to build up the city’s cash reserves.

Despite the above-average unemployment rate of 9.5 percent in surrounding areas, S&P cites several city proposals as rationale for the “A” rating. Some of these include competitive water and sewer rates; self-supporting electric, water and sewer systems; and recent cost-cutting initiatives at the current sewer plant.

S&P’s “A” rating reflects the quality of the city of Camden’s innovative and comprehensive vision plan.

“Our city is making improvements in infrastructure and partnering with local businesses to invest in our future,” Mayor Jeffrey Graham said in response to S&P's report.

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