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.
