Mayor Stoney Completes New York Visit to Bond Ratings Agencies

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Posted by Brandon Jarvis

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Richmond, VA – Mayor Stoney wrapped up two days of meetings with all three major ratings agencies — Moody’s, Fitch Ratings and Standard and Poor’s — which are located in New York City. He invited all three to visit the city to see first-hand Richmond’s evolution and progress.

The Mayor was joined by his Chief of Staff, Lincoln Saunders, Chief Administrative Officer Selena Cuffee-Glenn, Deputy Chief Administrative Officer for Finance Lenora Reid and financial advisors David Rose and Roland Kooch from Davenport & Company.

Said Mayor Stoney: “I felt it was important to make this trip in my first days in office to assure our friends at the ratings agencies that we are fully committed to implementing financial best practices and putting Richmond on the path to AAA, the highest possible bond rating. I affirmed to the agencies the priority I have placed on sound financial management, and reiterated the promise we have made to the citizens of Richmond — that the fiscal year 2017 Audit will be completed and the Comprehensive Annual Financial Report (CAFR) will be delivered on time this fall.”

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