Atascadero’s downtown improvement credit score goes up

The City of Atascadero secured a higher credit rating on some of its bond debt for downtown improvement projects from 2004, according to a city press release.

Bond-rating company Standard & Poor’s Rating Services raised the credit rating on the bonds from “A-” to “A,” affirming that the bonds exhibit long-term financial stability, according to the city.

The Atascadero Community Development Agency issued about $12.5 million in tax allocation bonds in 2004 for improvements to the downtown core and redevelopment project area for projects to help Atascadero Creek, the downtown streetscape, portions of the Lewis Avenue Bridge and the Colony Park Community Center, among others.

Tonya Strickland: 805-781-7858, @tstrickland