A DeKalb County city has received top credit marks from Moody’s and Standard & Poor’s.
The ratings were earned by Avondale Estates for the city’s anticipated $8.4 million Urban Redevelopment Agency Revenue Bonds Series 2023 to pay for the construction costs associated with the city’s Town Green and Market Pavilion.
Moody’s has assigned the city an initial Aa1 general obligation unlimited tax rating.
Standard & Poor’s has assigned the city an initial rating of AA+ with a stable outlook.
Both Moody’s and Standard & Poor’s cited the city’s strong economic outlook, sound budget management and financial policies among the reasons for these prestigious ratings, according to a city statement.
Avondale Estates is the highest-rated small city (population 5,000 or less) in Georgia by Moody’s and in the top 10% of ratings for small cities (population 5,000 or less) nationwide.
The city has the smallest tax digest and fifth smallest budget of all cities rated Aaa/Aa1 by Moody’s.
More details can be found at AvondaleEstates.org.
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