The City of Amarillo has received an AAA long-term credit rating from S&P Global Ratings for its 2026 certificates of obligation and public property finance contractual obligations. These are standard local government financing tools used for major equipment and facility needs.
S&P Global cited Amarillo’s strengths as a regional economic center, conservative financial management and strong reserves. The report notes that the city’s diverse economic base, including manufacturing, defense, food processing, distribution, health care, ranching and education, continues to support steady growth in property values and sales tax revenue.
The planned financing will support several essential city investments, including replacing aging equipment, purchasing three new fire engines and improving streets and parks across Amarillo.
S&P Global highlighted Amarillo’s practice of using excess reserves to cash-fund capital projects, which has helped keep the city’s debt burden lower than state peers. The report also noted the city’s adherence to a minimum operating reserve of 90 days and its consistent long-term financial planning.
“This rating reflects Amarillo’s strong financial practices and ongoing commitment to responsible stewardship,” said Laura Storrs, Chief Financial Officer for the City of Amarillo. “It underscores the stability of our local economy and our continued efforts to invest wisely in community needs.”
S&P Global said the stable outlook reflects expectations that Amarillo’s economic growth and strong management practices will continue to support positive financial performance over the next two years.