WOODSTOCK – Standard & Poor's has boosted the city of Woodstock's credit rating.
The city's rating was moved from AA- to AA, according to a news release from the city.
S&P based the upgrade on Woodstock's strong financial management and balance sheet, according to the release.
The ratings help determine interest rates on debt issuances and allows the city to refinance current debt for better rates.
Woodstock's "overall strong financial position, as evidenced by the credit upgrade, puts the City in a favorable position for commercial and industrial growth," the release said.