S&P Global Ratings has reaffirmed Carmel's ‘AA’ bond rating, which applies to three property tax bonds. The rating reflects the city's expanding tax base and strong financial management under Chief Financial Officer Zac Jackson, as reported by the City of Carmel.
The upcoming bond proceeds will be used to improve Carmel's infrastructure, including new roundabouts, pedestrian-friendly raised crosswalks, a revamp of Bear Creek Park, and upgraded fire stations. According to the City of Carmel, these projects are aimed at meeting the growing needs of Carmel’s residents. Chief Financial Officer Jackson noted that the city’s ‘AA’ rating from S&P places Carmel among the top-ranked cities of similar size in the state. "The rating illustrates Mayor Finkam’s commitment to improving the overall financial health of Carmel," Jackson said in the release.
Jackson emphasized that moving forward with the bonds will help reduce the city's interest rates on existing debt without extending the overall maturity dates, ensuring fiscal responsibility while supporting infrastructure improvements. "I appreciate the City Council’s partnership on these bonds and for helping to identify and prioritize the most critical capital projects," Mayor Finkam said, noting the collaborative approach to the city's financial planning, as stated by the City of Carmel.
