Standard & Poor's, one of the world's biggest credit rating agencies, this week affirmed its ‘A' rating on Atlanta's general obligation bonds. S&P also revised Atlanta's debt rating outlook from "negative" to "stable." The city said the changed outlook reflected its work to eliminate its general fund structural imbalance, curtail future pension obligation growth and improve cash flow.
"The city is pleased that Standard & Poor's has recognized our efforts toward a more secure financial position," said Jim Beard, the city's chief financial officer. "The city has a healthy reserve of $94 million, more than 15 percent of the general fund, and is well on its way to meeting the goal of more than $100 million."
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