GAINESVILLE - Moody's Investors Service has announced the upgrade of the revenue bond rating for the City of Gainesville from A1 to Aa2, a rare two-step upgrade. <br />
City officials say this places Gainesville at a "very high rating" on Moody's scale where an Aaa is the highest rating. Only two water and sewer systems in the state are above the Aa2 rating now awarded to Gainesville. <br />
Moody's report stated, "The upgrade to Aa2 reflects the solid debt service coverage, healthy reserves, low operating ratio, and strong management."<br />
This upgrade in the City's rating decreases the cost of future borrowing through lower interest rates and issue costs. It also increases the market value of the outstanding bonds currently held by investors. More importantly, the upgrade has a positive impact for the City in terms of economic development. Businesses interested in the City of Gainesville will view the bond rating as an indication of the community's economy and of the City's prudent governance. <br />
For a complete copy of Moody's report or for additional information, contact Melody Marlowe, Chief Financial Officer for the City of Gainesville, at <br />
770-535-6898. <br />
About three dozen businesses from White County and the surrounding area showcased their services and the products they provide during the 2016 White County Chamber of Commerce Business Expo held Thursday.
The Flowery Branch City Council gave first reading approval to a rezoning request for a 7.1-acre tract on East Main Street that could lead to the construction of a 60-unit multi-family senior housing affordable-living complex.