City of Atlanta Maintains Aa3 and AA Bond Rating

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.

These ratings demonstrate that the City of Atlanta is on the right track financially and operationally and that the expert financial community maintains strong confidence in the fundamental financial health of the City.