S&P Global Ratings assigned its 'AAA' long-term rating to the City of West Des Moines , Iowa's anticipated $15.215 million series 2025A general obligation (GO) bonds, based on the application of its " Methodology For Rating U.S. Governments ," published Sept. 9, 2024. At the same time, we affirmed our 'AAA' rating on the city's existing GO debt. The outlook is stable. The city's GO pledge and an agreement to levy ad valorem property taxes without limit as to rate or amount secure the bonds. Bond proceeds will be used for projects within the capital improvements program. The rating is supported by West Des Moines? consistently positive financial performance, with growing property tax revenue driving consecutive surpluses since fiscal 2021.
