Credit agency gives Cobb short-term debt top rating

Moody’s Investors Service affirmed Cobb County’s triple-A bond rating last week by giving the county’s $98 million in short-term debt its top rating.

The debt, known as tax anticipation notes, is issued annually by Cobb as temporary cash flow and is paid off with future tax collections. Moody’s rating is based on an expectation that Cobb will have ample cash balances to repay the debt in November, the county’s sizable and diverse economic and employment based, conservative fiscal management and a low debt burden.

Moody's notes that Cobb faces challenges including tax base declines expected in fiscal 2012.