Moody's Investors Service said it has upgraded to Aaa from Aa1 Fulton County School District, Ga.'s $71.8 million general obligation bonds and $28.5 million revenue bonds, issued through Union City, Ga and secured by the district's absolute and unconditional ad valorem pledge.
The Aaa rating reflects the district's sizable, diverse tax base that benefits from its position as a regional economic center, a sound reserve position, bolstered by formal policies and conservative management, and manageable debt and pension burdens, the agency said.
Among the school district's credit strengths, Moody's cited a large tax base that serves as a regional economic and employment center; historically stable reserve and liquidity positions; and manageable debt burden; use of Special Purpose Local Option Sales Tax (SPLOST) revenues provides significant funding for debt service and capital needs.
