Moody’s Investors Service has given the city of Sandy Springs an “Aaa” long-term credit rating, the highest rating for a city, Sandy Springs city officials announced.
“The rating reflects the economic strength of our community and sound, conservative management of our taxpayer dollars,” Sandy Springs Mayor Rusty Paul said in a press release. “Sandy Springs is a hub of economic strength, through the businesses that call our city home to the people who live and work here, creating a strong, vibrant community. And as a 10-year-old city, we are extremely proud to receive Triple-A rating following our first review.”
The rating comes in advance of the city’s planned issuance of approximately $160 million in revenue bonds to finance the City Springs development, the city noted, and should save the city “hundreds of thousands of dollars” in interest expense.