Moody's raises Atlanta's bond outlook

Moody's Investors Service, a major credit rating firm, has affirmed the city of Atlanta's Aa2 rating and revised its outlook to "stable" from "negative" on its $211.4 million in outstanding general obligation bonds and $184.5 million in contractual obligations. Also, Moody's affirmed the A1 rating on $81.4 million in revenue bonds issued through Invest Atlanta — formerly known as the Atlanta Development Authority — and the Atlanta-Fulton County Recreation Authority.

In its report, Moody's pointed to several initiatives undertaken by the administration of Mayor Kasim Reed, citing the city's growing cash reserves. Moody's called the city's debt burden "manageable" and its budgeting practices "conservative."