|Huntsville Earns Seventh Aaa Credit Rating from Wall Street
FOR IMMEDIATE RELEASE
March 23, 2015
(Huntsville, AL) - On the heels of Moody's Investors Service's announcement to award Huntsville with its top credit rating, Wall Street's Standard & Poor's Ratings Services announced today it is also assigning an Aaa rating to the City for the seventh year in a row. The stellar rating reflects S & P's highly positive assessment of Huntsville's economic base and municipal management practices.
"When both Wall Street credit agencies continue to reward us with the highest rating achievable, our team is doing something right," said Huntsville Mayor Tommy Battle. "As a City, we have worked hard to maintain conservative fiscal policies, diversify our economic base and strengthen our infrastructure. It's been a team effort, and I am proud to see Huntsville's star continue to rise."
Just six percent of municipalities in the U.S. receive an Aaa rating. Huntsville has consistently earned this prestigious rating since 2008.
The Aaa credit ratings will allow the City of Huntsville to borrow money at more favorable interest rates. Both agency ratings come in advance of the City's move to borrow $90 million to finance capital and economic development projects included in the 2015 Capital Improvement Plans. The plan may be found online at www.hsvcity.com/finance/finance_reports.php.
For more information, please contact:
Kelly Cooper Schrimsher, Director of Communications, Office of the Mayor, 256-427-5006 (w), firstname.lastname@example.org
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