About the Author
Chad Swiatecki is a 20-year journalist who relocated to Austin from his home state of Michigan in 2008. He most enjoys covering the intersection of arts, business and local/state politics. He has written for Rolling Stone, Spin, New York Daily News, Texas Monthly, Austin American-Statesman and many other regional and national outlets.
Most Popular Stories
Discover News By District
The city has received another “AAA” bond rating from the three U.S. financial rating agencies, with a stable outlook given to its ability to repay debt for long-term capital improvement projects. The rating represents the eighth year in a row that Standard & Poor’s, Moody’s Investors Service and Fitch Ratings have given Austin the highest bond rating possible, a distinction that gives the city a low borrowing cost to take out bonds. As an example, a round of tax-exempt public improvement bonds with a 20-year term were sold last week at a true interest cost of 2.77 percent. Those bonds are part of a portfolio of debt products the city recently undertook and they will be used to help support affordable housing projects. The high bond rating – which is calculated based on local economic strength, the city’s financial and administrative management, and a variety of debt ratios – will come into play in determining the borrowing costs to secure the bonds for whatever portions of a seven-part series of bond projects that voters will decide in November.
Join Your Friends and Neighbors
We're a nonprofit news organization, and we put our service to you above all else. That will never change. But public-service journalism requires community support from readers like you. Will you join your friends and neighbors to support our work and mission?