Manhattan Beach Maintains Premier AAA Credit Rating From S&P Global Ratings

PRESS RELEASE: Manhattan Beach Maintains Premier AAA Credit Rating From S&P Global Ratings (PDF) OFFICE OF COMMUNICATIONS Alexandria Latragna, Communications and Civic Engagement Manager [email protected] • (310) 802-5063

FOR IMMEDIATE RELEASE

MANHATTAN BEACH MAINTAINS PREMIER AAA CREDIT RATING FROM S&P GLOBAL RATINGS
Highest possible rating reflects strong financial management and fiscal stability

Manhattan Beach, CA (July 28, 2025) - The City of Manhattan Beach is pleased to announce that S&P Global Ratings has reaffirmed the City's AAA credit rating, the highest rating available, and a testament to the community's exceptional financial health policies and management practices.

The AAA rating reflects S&P's confidence in Manhattan Beach's ability to meet its financial obligations and demonstrates the City's commitment to prudent fiscal stewardship. This premier rating positions Manhattan Beach among an elite group of municipalities nationwide that maintain the highest level of creditworthiness. The rating is an indication of the City's strong financial management policies, healthy available reserve position, affordable long-term liability profile, and favorable economic metrics, including extremely high local income metrics.

"This AAA rating reaffirmation is a direct result of our community's commitment to responsible financial management and long-term planning," said Mayor Amy Howorth. "It validates our strategic approach to budgeting, debt management, and maintaining strong reserves while continuing to provide exceptional services to our residents."

"The AAA rating is more than just a financial benchmark-it demonstrates our entire organization's dedication to fiscal excellence and transparent governance," said City Manager Talyn Mirzakhanian. "This rating ensures that when we invest in critical infrastructure projects or community improvements, we do so with the most favorable financing terms possible, ultimately saving taxpayer dollars and strengthening our community's future."

The AAA rating provides significant benefits to Manhattan Beach taxpayers by:

• Ensuring the lowest possible borrowing costs when the City issues bonds for infrastructure and capital projects
• Demonstrating fiscal responsibility and transparency to residents
• Maintaining strong investor confidence in the City's financial stability
• Preserving the City's ability to access capital on favorable terms for future needs

S&P Global Ratings evaluates municipalities based on several key factors, including economic base, financial performance, debt burden, and financial management practices. The City of Manhattan Beach has consistently maintained such strong financial practices, ensuring the delivery of high-quality services while maintaining fiscal stability for future generations.

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