BRADENTON, Fla. — With two rating upgrades to its credit rating, Mobile, Ala., today prices $56 million of general obligation warrants, a large portion of which will finance a major economic development project.

Some $33.5 million of the proceeds of the warrants, which are similar to bonds, will be applied to the city’s obligation toward the ThyssenKrupp AG steel plant under construction in northern Mobile County. The remaining proceeds of today’s sale, $22.5 million, will be used for various capital improvements in the city.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.