East Point receives upgraded Aa3 bond rating

The city of East Point’s bond rating has been upgraded to Aa3, according to a press release. This rating was issued by Moody’s Investors Service, a wholly-owned credit rating agency. They upgraded the city’s General Obligation Limited Tax rating to Aa3 from A1.

“The city of East Point takes great pride in its Aa3 bond rating,” said Mayor Deana Holiday Ingraham. “This is a reflection that the city continues to move in a positive direction, is fiscally responsible, and has a strong economic base.”

The Aa3 issuer rating reflects the city’s sizeable tax base which benefits from its proximity to Atlanta, strong reserve and liquidity levels, its elevated fixed costs, low debt burden, and prudent fiscal management. The city’s financial policies strongly ensure that the Finance Department properly manages the city’s budget. In their press release, Moody’s Investors Service stated that their expectation is “that the city’s overall credit profile will remain stable.”

Information: www.eastpointcity.org.