Moody’s Investors Service and Standard &Poor’s , the country’s top financial ratings agencies, have affirmed the City’s current Aa3 stable outlook and AA stable outlook bond ratings for City of Atlanta general fund debt.
These ratings were issued recently in anticipation of the SWMA refinancing and result from the agencies review of the city’s financial status and practices. This is especially rewarding during the current economic downturn. Over the last six years the City has invested in upgrading its financial systems and revamping its business practices to bring clarity and transparency to its management and to restore financial accountability and public trust.
This affirmation for the City’s general fund ratings and outlook comes at an important time in the City’s history when the City has adopted new business practices and invested in financial systems to better account for its liabilities and revenue and amid a difficult FY’09 budget.
The ratings recognition illustrates that the City of Atlanta is on the right track financially and operationally and the expert financial community maintains a strong level of confidence in the financial health of the City.
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