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City Financial Advisor Working On Plan To Improve City’s Credit Rating

September 11th, 2012 by WCBC Radio

Davenport & Company, Cumberland’s Towson-based financial advisor for 30 years, is working on a plan for the city to improve the city’s credit ratings with Moody’s, S&P and Fitch, companies that designate the credit worthiness of municipalities. Among improvements needed, according to Joe Mason- a company representative is the keeping of more cash on hand for unexpected repair, such as to one of the old waterlines in the city. The fact that the city has a clear plan in place and has been meeting certain fiscal bench marks bodes well for re-establishing its credit rating…

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