Roswell’s sound financial management practices have earned it the highest possible bond rating from two of the nation’s financial rating services, say the city.
Both Moody’s and Standard & Poor’s have recently assigned Roswell the AAA bond rating, according to information provided by the city.
In their findings, both agencies cited Roswell’s strong financial position and good management practices in awarding the AAA bond rating. In awarding the rating, the agencies also mentioned Roswell’s very strong residential community and sound commercial base, strong wealth and income levels, low unemployment, the its low overall debt, written financial policies and historical practices and a well-funded defined benefit pension for employees.
"We expected the rating agencies to come back with the AAA bond rating,” said Mayor Jere Wood, who was pleased to see the rating agencies uphold Roswell’s AAA bond rating. "The city of Roswell is one of the best managed cities in the state and maintaining our AAA bond rating through these tough economic times reflects that. Only one other city in the state of Georgia holds a AAA credit rating from both Moody’s and Standard and Poor’s so we are very pleased with the news."
Moody’s and Standard & Poor’s credit ratings express each agency’s opinion about the ability and willingness of an issuer, such as the city of Roswell, to meet its financial obligations in full and on time. Each agency applies its own methodology in measuring creditworthiness and uses a specific rating scale to publish its ratings opinions. The ratings serve as a useful tool for investors and market participants to gauge credit risk and have helped companies and governments access capital.