► On the Record

“This is exceptional news for the city of Vancouver and our citizens. The difficult budget decisions made during the past two years were the right financial steps at the right time. This independent assessment by the rating agencies validates our extensive efforts to refocus and prioritize city services, based on what the community values most, within the resources we have.”

-- Vancouver City Manager Eric Holmes on the Standard & Poor's recently announced credit rating upgrade for the city of Vancouver. Upgraded credit ratings generally translate into lower bond rates, providing savings to the city as a whole.