The mayor of Buffalo is not taking much stock in a recent critical analysis of the city’s finances.

Fitch Ratings downgraded Buffalo’s credit rating one spot, from AA- to A+. The agency noted the city’s revenue projections in recent years have been overly optimistic and its reserves are dwindling.

Mayor Byron Brown, D, said the city contacted Fitch directly to disagree with the assessment and believes the rating could be restored in the next couple of months.

“Our approach will be to educate all of the credit rating agencies on how the city is fiscally managing itself on new revenues that are coming into the city, on cost efficiencies that we have developed for the city and our goal would be to see this rating and other ratings go up,” he said.

Brown said he is pleased with where the administration is in its strategic plan. He does not believe Fitch had a good understanding of new revenue streams including higher parking rates, new school speed zone cameras and an enhanced unit securing federal grants.

He also pointed out the adjustment will not have an immediate impact on the city’s bottom line.

“We spoke with our independent financial advisor who has indicated that this adjustment by Fitch should not impact the city’s interest rates and when we borrow money, we should be able to borrow at the same interest rate.”

Fitch also noted the city is suffering from shortfalls created by the ongoing dispute between the Seneca Nation and New York State over casino revenues. The state shares a portion of the payments it receives from the Senecas with the cities that house the casinos, however the Senecas haven’t made a payment in more than two years.

The state has already advanced money to the other two cities, Niagara Falls and Salamanca, and Brown confirmed Buffalo will received $7.5 million in the near future.

“This is what we said all along, that the state would send relief if this process continued to drag on,” he said.

Brown said he remains confident the Senecas will eventually have to make both back payments and recurring payments and it will eventually be a windfall for Buffalo.