S&P Increases City of Jackson Bond Rating (JACKSON,TN) Standard and Poor’s increased the city of Jackson general obligation (GO) bond rating from AA- to AA, citing strong management, very strong budgetary flexibility, very strong liquidity, strong budgetary performance, adequate debt and contingent liabilities and the presence of a very strong institutional framework. “The citys role as the anchor to the regional MSA economy additionally supports the rating. The stable outlook reflects our view of Jacksons consistently strong financial performance. We do not expect to change the rating over the next two years because we believe the management team will remain committed to maintaining the existing financial position, S&P said. The recent history of ratings demonstrates two rate increases. • February 2, 2009: A+ • September 26, 2012: AA- • September 17, 2014: AA The value of the investment grade increase is relative to financial capacity and the ability of a municipality to tolerate changes in economic conditions. According to Al Laffoon, city recorder, “For a city the size of Jackson, receiving the “AA” rating from S&P is a significant financial indicator of sustained growth and future growth.” For additional information, please contact Al Laffoon, City Recorder, (731) 425-8248.
Posted on: Tue, 23 Sep 2014 21:12:28 +0000
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