Reasons cited for the upgrade included considerable new growth and development that has occurred over the past several years; contributing to strong per capita market valuation; conservative fiscal management resulting in sound financial operations; very strong financial reserves; and moderate overall debt burden. Lewiston's financial management strengths were also described as "a demonstrated conservative approach to budgeting and strong monitoring practices."

Upon hearing that Standard & Poor's reported that "Lewiston's financial performance has historically been sound, and the City has consistently managed reserves at very strong levels" Finance Director Richard T. Metivier noted, "This upgrade reflects the ongoing commitment of the City's elected officials and management staff to make wise, financially responsible decisions."

Standard & Poor's is a global leader in credit ratings and credit risk analysis, analyzing issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies, and sovereign governments.