St. Tammany Parish Sales Tax District #3 Earns Second Bond Rating Upgrade under Brister Administration
Business Analysts from Standard and Poor’s (S&P), one of the world's leading providers of independent credit risk research and benchmarks, raised the rating of the bond that Parish Government holds and manages for roads and infrastructure. The upgraded rating will change for the second time within five years, to an upgraded rating of Double A Plus (AA+) from Double A (AA). S&P bases its ratings on their Priority Lien Criteria, which factors in both the strength and stability of the pledged revenues, as well as the parish’s creditworthiness.
“This second rating upgrade is a measure of our fiscal accountability, verified and validated by S&P, an independent entity,” said Pat Brister, St. Tammany Parish President. “I am proud to lead a team who understands the great responsibility we have to taxpayers, and is happy to be accountable for, and prudent with, our investments.”
According to Jim Ryan of Government Consultants Inc., the Parish’s financial advisor on the matter, St. Tammany Parish is one of a only a few Parishes that have such a high rating, possibly less than five state-wide.