Fitch Ratings upgraded its outlook for the city of Lodi's $21.7 million in outstanding 2002 General Fund debt and maintained its AA- rating, according to a company press release issued Monday.
The city's financial outlook went from "negative" to "stable" in the decision.
Costco's Lodi debut, the opening of Home Depot in spring 2012, concessions from city employees and the benefits associated with the Lodi Energy Center were cited by Fitch Ratings for the improved outlook.
The 2002 General Fund Certificates of Participation were used to construct a new police station and refinance previous certificates used to renovate Downtown, Cherokee Lane and Hutchins Street Square.
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