In 2012, the City of Perryville was “rated” for the first time. We received an “A” rating from Standard & Poor’s regarding the Natural Gas System Refunding Revenue Bond. The City also received an “A-“ rating from Standard & Poor’s regarding the Series 2012 Refunding of Certificates of Participation. There was a rating review in 2014 and both bonds were upgraded two steps. At that time, Standard & Poor's Ratings Services raised its issuer credit rating (ICR) to 'AA-' from 'A' and also raised our long-term rating to 'A+' from 'A-' on the city's series 2012 certificates of participation (COPs). The outlook was considered stable.