Mayor, Council Budget Chair, city and HART officials to meet with bond rating agencies in San Francisco

News Release from City and County of Honolulu, July 31, 2017

Mayor Kirk Caldwell will lead a team of city officials to San Francisco this week to meet with bond rating agencies in advance of an upcoming sale of General Obligation Bonds for the City and County of Honolulu.

Mayor Caldwell will be joined by Honolulu City Council Budget Chair Joey Manahan, City and County of Honolulu Budget and Fiscal Services Director Nelson Koyanagi and Chief of Treasury Wayne Fujita, Chief of Staff Gary Kurokawa, and HART Chief Financial Officer Robert Yu.

They will meet with rating agencies Moody’s and Fitch on Wednesday, August 2. The bond sale is scheduled for mid-August.

Honolulu has maintained bond ratings of Aa1 from Moody’s and AA+ from Fitch throughout Mayor Caldwell’s administration. These excellent bond ratings result in lower interest rates for the city. Mayor Caldwell most recently meet with Moody’s and Fitch in September 2016 prior to another bond sale.

In addition to the bond meetings, on Tuesday Mayor Caldwell and Chair Manahan will tour electric bus manufacturer Proterra to examine emission free buses that could be brought to O‘ahu in the future.

Mayor Caldwell departed Honolulu this afternoon, Monday, July 31 and will return on Wednesday, August 2. During this time Managing Director Roy K. Amemiya, Jr. will serve as Acting Mayor.

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