We often think about how debt impacts the individual, but cities, and states also have their own credit rating that reflect how well they manage their debt.
Tampa, our home town and the base of operations for Marcadis Singer, PA debt collection attorneys, has just had their credit rating raised from AA to AA +.
According to Mayor Bob Buckhorn this raise in the city’s credit rating displayed Tampa’s “unwavering commitment to fiscal accountability,”
A city’s credit rating is not an aggregation of the credit of the people in the city, but rather a reflection of the actual government entity’s ability to pay it’s debts, and the city’s (or state’s) history of successfully paying off debt.
AA+ is one sliver of a rating away from the very top rating of AAA. We are proud to live in such a business friendly, and fiscally responsible city. It is rewarding to see the reporting agencies recognize the efforts and successes of our city in managing its debt.
Marcadis Singer, PA, is focussed on debt collection in the Business to Consumer space, and Business to Business space, and not often called on to support debt collection activity on the part of, or against, any governmental agencies. We, however, still appreciate seeing the tremendous effort of fiscal responsibility, and the positive impact it has on our community.
Just as with individuals, the stronger your credit, the more you can accomplish financially. If you are an individual that we are attempting to collect a debt from. Work with us as opposed to trying to hide from us. The long term benefits of having your debt well managed far outweigh the short term pain of getting your debt under control. Just as our wonderful city management.