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Menlo Park retains AAA bond rating

 

Citing the city's strong economy, high income levels and strong connection to the technology sectors of Silicon Valley, bond rating agency Fitch has confirmed Menlo Park's AAA bond rating, city officials announced Sept. 24.

The rating, the highest available, reflects the city's "track record of consistently identifying new revenue opportunities and cost savings strategies to address potential imbalances," according to Fitch officials.

The announcement noted that those new revenue streams include the proposed hotel tax increase on the November ballot, as well as the available (but unimplemented) capacity to increase the utility users' tax.

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