Credit rating out for Tuscaloosa - ABC 33/40 - Birmingham News, Weather, Sports

Credit rating out for Tuscaloosa

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TUSCALOOSA - AL -

The City of Tuscaloosa recently received Aa1 and AA+ from credit ratings agencies Moody's and Standard and Poor's, respectively.

Moody's maintains an Aa1 Issuer Rating and an Aa1 rating on the city's indebtedness. It notes a diversified tax base including the University of Alabama, solid financial reserves and strong fiscal management and financial policies as Tuscaloosa's strengths.

In its report, S&P identified several strengths as reasons for its credit upgrade such as a diverse regional economy, strong financial position and performance and low debt levels and limited capital needs.

Both agencies cited the City's strong financial position as a foundation for the credit upgrade.

"Being able to receive such strong credit ratings during a recession and in the wake of one of the worst natural disasters in the history of this country is remarkable," Tuscaloosa Mayor Walter Maddox said. "I'm proud of the responsible and knowledgeable leaders of this city."

For the full reports from S&P and Moody's, please go to http://bit.ly/RBXbUN

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