Lafayette Reporter

Moody's Investors Service has upgraded the special tax rating of Lafayette, Louisiana, from Aa3 to Aa2, signaling the city's improved financial profile and fiscal management. The rating agency has also assigned an Aa2 rating to Lafayette's new sales tax bonds.

Mayor-President Monique B. Boulet credited the financial team, particularly CFO Karen Fontenot, for the successful rating increase, stating, "This rate increase speaks to our financial team, led by CFO Karen Fontenot. Our team has established strong fiscal policies and credibility that will help us for years to come."

The decision to upgrade Lafayette's special tax rating to Aa2 reflects the Boulet Administration's dedication to prudent financial management and future fiscal stability. Moody's highlighted Lafayette's robust revenue base, conservative budgeting practices, and proactive debt management strategies as key factors in the upgrade.

In addition to the rating upgrade, Moody's assigned an Aa2 rating to Lafayette's new sales tax bonds, citing the city's stable economic base and low debt burden. These actions demonstrate Moody's confidence in Lafayette's financial strength and creditworthiness.

The city's commitment to fiscal responsibility and prudent stewardship of public resources ensures a promising future for residents, businesses, and investors alike. The upgraded ratings are expected to benefit taxpayers by saving dollars and enabling more funds to be allocated towards critical projects.